Paris, France-based biopharmaceutical company specialized in the development of transformative therapies for unaddressed heart failure subpopulations, Corteria Pharmaceuticals raises EUR 65 million in Series A financing. The round took place on September 7, 2023. Jeito Capital (“Jeito”), a leading global investment firm dedicated to healthcare and biopharma and OrbiMed co-led the financing for the company. Existing investors such as Kurma Partners, Fountain Healthcare Partners, V-Bio Ventures, Invivo Capital, and Omnes Capital joined in the financing.
Purpose of financing for Corteria Pharmaceuticals
With the latest financing, Corteria Pharmaceuticals seeks to further advance the Company’s heart failure pipeline into the clinic. Corteria expects to bring its lead asset into clinical trials to validate the treatment pathway in early 2024.
What the company’s official has to add
Philip Janiak, Founder and CEO of Corteria Pharmaceuticals, said, “This financing marks a major milestone in our mission to bring therapies to heart failure subpopulations with high unmet needs. We are extremely grateful to Jeito and OrbiMed as our new investors for their trust in our science and team and to our existing investors for their support and commitment since inception. We are looking forward to working all together to develop next-generation transformative therapeutics.”
What the investors have to add
Dr Rafaèle Tordjman, MD, PhD, Founder and CEO of Jeito Capital, said, “With our first investment in the cardiovascular field, we are partnering with Corteria Pharmaceuticals, a French company with a global vision to address well-defined sub-populations of heart failure, with an urgent need for new and effective treatments. Corteria’s strong pipeline of assets, backed by a dedicated and highly experienced team with a proven track record in cardiovascular development, represents an exciting opportunity to expand treatment options. Their commitment to transformative therapies as a leading French biopharma with global aspirations perfectly aligns with Jeito’s mission, and we see great potential to make a meaningful difference in patient lives.”
In addition, Andreas Wallnoefer, Partner at Jeito Capital, added, “Despite current treatments, heart failure is a progressing disease. It severely impacts the lives of many patients and remains one of the leading causes of mortality worldwide. Corteria focuses on translating important therapeutic innovations in cardiology into clinical practice. Our investment in Corteria reflects Jeito’s commitment to address significant unmet needs in the realm of cardiology. We are excited to join forces with Corteria’s dedicated team to develop a portfolio of medicines with important clinical benefits for patients.”
About the company
Philip Janiak and Marie-Laure Ozoux launched Corteria Pharmaceuticals. The France-based Corteria Pharmaceuticals is a privately held biopharmaceutical company developing first-in-class drugs in heart failure subpopulations.
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