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Biotech company Celladon seals $43m led by Pfizer Venture Investments

15 Feb 2012

Biopharmaceutical company Celladon has completed a $43m equity financing led by corporate investment group Pfizer Venture Investments alongside new investors Lundbeckfond Ventures, Novartis Venture Funds, H&Q Healthcare/Life Sciences Investors, and GBS Venture Partners.

All previous investors participated in this round including Enterprise Partners Venture Capital, Johnson & Johnson Development Corporation and Venrock Associates.

The company is developing treatments for cardiovascular diseases, and said the financing would advance its lead investigational product candidate Mydicar, for the treatment of heart failure.

In conjunction with the financing, Celladon has added new of directors to its board including Barbara Dalton, of Pfizer Venture Investments; Johan Kordel, of Lundbeckfond Ventures; Lauren Silverman, of Novartis Venture Funds; Daniel Omstead, of Hambrecht & Quist Capital Management; and Josh Funder, of GBS Venture Partners. In addition, Andrew Senyei, of Enterprise Partners Venture Capital, will continue to serve as a director.

“We are pleased to have attracted such a top tier syndicate to support advancement of MYDICAR for the benefit of advanced heart failure patients,” said Krisztina Zsebo, president and CEO of Celladon.

“Mydicar has demonstrated clinical benefit in human clinical trials and we believe that it has the potential to be a much needed new treatment option for patients with advanced heart failure. Pfizer Venture Investments is very pleased to support Celladon’s efforts to improve the lives of heart failure patients with our investment in the company,” added new chairman of the board Dalton.

Pfizer Venture Investments was founded in 2004 and targets investments in healthcare-related areas including therapeutics, platform technologies, diagnostics, drug delivery, pharmaceutical services, healthcare IT, and other technologies impacting drug discovery and development.

With a $50m annual budget for private investments, PVI invests up to $10 per round in any stage of development, with a strong focus on growth stage.

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