Conatus Pharmaceuticals Raises $20 Million
SAN DIEGO – Conatus Pharmaceuticals Inc. announced the closing of a $20 million Series B Preferred Stock private placement financing. This financing was led by new investor, AgeChem Venture Fund of Montreal, Canada, and included participation by existing investors; Aberdare Ventures, Advent Venture Partners, Bay City Capital, Gilde Healthcare Partners, and Roche Venture Fund. Conatus will use the proceeds to advance the clinical development of CTS-1027, a novel clinical-stage drug candidate the Company has licensed from F. Hoffman-La Roche, Ltd. and is the subject of multiple Phase 2 clinical trials in hepatitis C (HCV)-infected patients.
As part of the financing, Louis Lacasse from AgeChem will join the Conatus Board of Directors. “We are very excited about joining such an elite group of investors to support the development of CTS-1027 which we believe could be a blockbuster drug for the treatment of HCV infections,” said Louis Lacasse.
The Series B financing will remain open for an additional period as other potential investors conclude their diligence.
“This financing enables Conatus to expand the clinical development of CTS-1027 as a cell-based antiviral for the treatment of HCV infections. We believe that CTS-1027 represents a novel approach to treating HCV disease and look forward to developing this drug candidate in the HCV-null responder population in combination with the existing standard of care drugs. We also believe that CTS-1027 may be an ideal candidate for use in combination with new antiviral drugs in future all oral treatments for HCV,”
said Steven J. Mento Ph.D.
Conatus Pharmaceuticals Inc. is a privately-held biopharmaceutical company engaged in the development of innovative human therapeutics to treat liver disease and oncology. Conatus’ lead drug candidate, CTS-1027 is in multiple Phase 2 clinical trials for the treatment of hepatitis C virus (HCV). Conatus was founded by the executive management team of Idun Pharmaceuticals in July 2005 following the sale of Idun to Pfizer. For additional information, please visit www.conatuspharma.com.
About Gilde Healthcare Partners (www.gildehealthcare.nl)
Gilde Healthcare Partners founded in 2000 is headquartered in Utrecht, the Netherlands. Gilde Healthcare Partners has over EUR 300 million under management and is actively looking to lead new investments in therapeutics, diagnostics, medical devices, enabling technologies and healthcare services. Gilde is a successful builder of healthcare businesses across Europe and US. By investing in companies with clear achievable business models, Gilde has used its financial resources and network to create significant value for both its investors and the entrepreneurs it backs.
Companies that Gilde Healthcare Partners has pro-actively supported span all aspects of healthcare and include Ablynx (Belgium), Acacia (UK), Agendia (Netherlands), AMT (Netherlands), Ascendis (Denmark), BG Medicine (US), Chroma Therapeutics (UK), Conatus (US), Flowcardia (US), Glycart (Switzerland), Innate Pharma (France), mtm therapeutics (Germany) Pieris (Germany), Profibrix, Santaris (Denmark) and Symphogen (Denmark).
Gilde Healthcare II is supported by the European Communities Growth and Employment Initiative, MAP - ETF Start up Facility.