Catabasis Pharmaceuticals adds $14.5M to Series A financing
Catabasis Pharmaceuticals Inc., a Cambridge biopharmaceutical company focused on inflammatory and metabolic diseases, has raised $14.5 million in a second tranche of a Series A funding round led by SV Life Sciences, Clarus Ventures, MedImmune Ventures and Advanced Technology Ventures, with additional backing from Advanced Technology Ventures. The Series A financing originally closed with $39.6 million in April.
The second tranche of financing stems from development milestones Catabasis reached, in leading to human clinical trials, for its drug candidate to treat type 2 diabetes. The funds will support this compound in reaching human clinical trials in 2011, in addition to supporting the company’s metabolic disease and inflammation programs.