Catabasis Pharmaceuticals has received an additional $8 million in Series A financing, bringing the total amount raised to $47.6 million. All current investors participated in the financing, including SV Life Sciences, Clarus Ventures, MedImmune Ventures and Advanced Technology Ventures. The new funding will be used to accelerate the development of CAT-2003, the company’s omega-3 conjugated compound for patients with severe hypertriglyceridemia, and move the compound into the clinic in 2012.
“We greatly appreciate the continued commitment and strong support from our existing investors,” said Jill C. Milne, Ph.D., chief executive officer and co-founder of Catabasis. “The preclinical data for our hypertriglyceridemia program are compelling and show CAT-2003 provides superior efficacy compared to omega-3 fatty acids alone in animal models. The additional financing will allow us to take this program through clinical proof of concept in humans.”