In one of the largest financing rounds this year, biopharmaceutical startup Regado Biosciences has raised $51 million to advance its anti-clotting therapeutic through Phase 3 clinical trials.
A subsidiary of Russian investment firm Rusnano, RusnanoMedInvest, led the Series E round. Baxter Ventures, part of Baxter Healthcare, also was a firsttime investor in the company., according to a company statement. Existing investors participating in the round included Edmond de Rothschild Investment Partners, Domain Associates, Quaker Partners, Aurora Funds and Caxton Advantage Life Sciences Fund also participated in the round.
Its lead treatment is REG 1, a therapeutic consisting of an aptamer paired with an active control agent. Aptamers, developed in vitro, have been likened to antibodies because of their binding affinity for their targets. The treatment’s lead indication is to control bleeding in coronary angioplasty procedures. The Basking Ridge, New Jersey biopharmaceutical startup is also pursuing a parallel indication for the therapeutic for use in open heart surgery.
When Investment Rhymes with Canada
Canada has a proud history of achievement in the areas of science and technology, and the field of biomanufacturing and life sciences is no exception.
Other treatment programs in its pipeline that will benefit from the new funding include its REG1 indication for transaortic valve implantation and its treatment for diabetic vasculopathy, a blood vessel disorder, expected to begin Phase 1 clinical trials in 2013.
The Phase 3 trial will look at the efficacy of the therapeutic. Patients will be enrolled at about 500 sites and it is expected to be completed two years after it begins.
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