News | Stem Cell Therapies | August 22, 2019

Renovacor Closes $11 Million Series A Financing for New Cardiovascular Gene Therapy

Funding supports preclinical development through IND submission for BAG3 gene therapy, the first gene replacement product for genetic forms of dilated cardiomyopathy

Renovacor Closes $11 Million Series A Financing for New Cardiovascular Gene Therapy

August 22, 2019 — Renovacor Inc, a preclinical-stage biopharmaceutical company, announced the successful completion of an $11 million Series A financing for its recombinant adeno-associated virus (AAV)-based gene therapy for dilated cardiomyopathy (DCM). The gene therapy is indicated for patients with DCM due to mutations in the BAG3 gene.

The foundational understanding of BAG3 mutations and the company’s gene therapy product are based on 10 years of research performed by Arthur Feldman, M.D., Ph.D., the Laura H. Carnell Professor of Medicine (Cardiology) at the Lewis Katz School of Medicine Temple University. Proceeds from the Series A financing will be used to advance the company’s first-of-its-kind gene replacement therapy through filing of an investigational new drug (IND) application in preparation to initiate human clinical trials in DCM patients who have mutations in their BAG3 gene.

Dilated cardiomyopathy is a condition affecting more than 3 million patients in the U.S. and growing steadily. Many patients develop DCM due to ischemic heart disease. Recently subpopulations have been identified that develop DCM due to mutations in specific genes that have been shown to result in the development of DCM. One of these specific genes is the Bcl2-associated athanogene 3 (BAG3) gene. The prevalence of disease causing BAG3 haploinsufficiency is estimated at approximately 35,000 individuals in the United States, representing an orphan disease by U.S. Food and Drug Administration (FDA) guidelines. It is estimated a similar number of DCM patients with BAG3 mutations exist in Europe. These patients are typically younger and progress to end-stage heart failure sooner than patients with ischemic heart disease. 

Currently DCM patients with a BAG3 mutation are treated with standard of care for heart failure. Despite improvements in pharmacotherapy and care, the five-year survival of a patient with DCM is only 50 percent. Development of a BAG3 gene replacement therapy for patients with DCM that carry BAG3 mutations could potentially prevent progression of disease in this otherwise healthy population of young adults.

The financing round was co-led by Novartis Venture Fund, Broadview Ventures and BioAdvance, and joined by New Leaf Venture Partners and Innogest Capital. In conjunction with the financing, Renovacor announced its leadership team and board of directors including Feldman, M.D., Ph.D., FACC, Renovacor’s founder; Magdalene Cook, M.D., Renovacor’s president/CEO; Thomas Needham, MBA, director, Broadview Ventures; Campbell Murray, M.D., managing director, Novartis Venture Fund; and Edward J. Benz, M.D., president and CEO emeritus of the Dana-Farber Cancer Institute, and currently the Richard and Susan Smith Distinguished Professor of Medicine, professor of pediatrics, and professor of pathology at Harvard Medical School.

For more information: www.renovacorinc.com

Related Content

The U.S. Food and Drug Administration (FDA) has granted market clearance for AstraZeneca's dapagliflozin (Farxiga) to reduce the risk of hospitalization for heart failure (HF) in adults with type 2 diabetes (T2D) and established cardiovascular disease (CVD) or multiple cardiovascular (CV) risk factors.
Feature | Heart Failure | October 21, 2019 | Dave Fornell, Editor
October 21, 2019 – The U.S.
Research Shows Drug Can Extend Survival Rates for Heart Failure Patients
News | Heart Failure | October 16, 2019
Researchers have shown for the first time in preclinical studies that the drug Aliskiren can delay the progression of...
The COAPT Economic Analysis sub-study found it is cost effective to treat heart failure patients who have severe secondary mitral regurgitation with MitraClip to reduce their MR symptoms. #TMVR #TCT2019 #TCT19

The COAPT Economic Analysis sub-study found it is cost effective to treat heart failure patients who have severe secondary mitral regurgitation with MitraClip to reduce their MR symptoms.

News | Heart Failure | October 04, 2019
October 4, 2019 – Results of a new economic analysis of the COAPT Trial data found that transcatheter mitral valve re
COAPT Trial three-year data show the MitraClip continued effectiveness in heart failure patients with secondary mitral reguritation. #TCT2019 #TCT19 #mitralclip

COAPT Trial three-year data show the MitraClip continues to show safety and effectiveness in heart failure patients with secondary mitral reguritation.

News | Heart Failure | October 03, 2019
October 3, 2019 – The three-year results from the...
Positive Safety, Efficacy Data Reported on AccuCinch Heart Failure Device
News | Heart Failure | September 27, 2019
Ancora Heart Inc. announced results from an interim analysis of heart failure patients treated in the CorCinch FMR...
Max and Debra Ernst Heart Center Opening at Beaumont Hospital, Royal Oak
News | Heart Failure | September 20, 2019
The new Max and Debra Ernst Heart Center at Beaumont Hospital, Royal Oak, Mich., will open Sept. 30. It is dedicated to...
FDA Grants Fast Track Designation for Farxiga in Heart Failure
News | Heart Failure | September 18, 2019
AstraZeneca announced the U.S. Food and Drug Administration (FDA) has granted Fast Track designation for the...
Corvia Medical and physIQ Partner in Global Phase 3 Heart Failure Device Clinical Trial

The REDUCE LAP HF-II study will combine Corvia Medical's InterAtrial Shunt Device (IASD), pictured here, with physIQ's continuous monitoring platform to evaluate the device's efficacy in patients with heart failure. Image courtesy of Corvia Medical.

News | Heart Failure | September 12, 2019
Corvia Medical has sponsored and is actively enrolling patients in a heart failure (HF) device trial that, in addition...
 Tiny Wearable Cameras May Improve Quality of Life in Heart Failure Patients

Image courtesy of Amazon.com

News | Heart Failure | September 11, 2019
The ever-present devices that seem to track all our moves can be annoying, intrusive or worse, but for heart failure...
PARAGON-HF Misses Endpoint in Preserved Heart Failure
News | Heart Failure | September 11, 2019
The angiotensin neprilysin inhibitor sacubitril/valsartan (Entresto) missed its primary endpoint of reducing total...
Overlay Init