SV Life Sciences and Third Rock Ventures have led a $10m Series A financing to launch nervous system-related disease treatment provider Cibiem.
The company said it would use the funds to support development of its minimally invasive treatment system for hypertension, heart failure, diabetes and renal failure.
Cibiem is launching out of medical device incubator Coridea, which focuses on innovation in the cardio-renal and cardio-pulmonary fields.
SV principal Jonathan Wyler and Third Rock partner Neil Exter will join the Cibiem board following the deal.
Wyler said, “Cibiem is led by a management team with an impressive track record in medical device innovation and the formation of successful companies.
“Based on this proven expertise, we see tremendous value and opportunity for the team to rapidly advance Cibiem’s unique catheter-based approach for the treatment of a broad range of sympathetic nervous system-mediated diseases.”
Last month SV led a $7.6m Series B round for UK pharmaceutical company Karus Therapeutics alongside New Leaf Ventures, Novo and International Biotechnology Trust.
The company develops innovative medicines for the treatment of inflammatory disease and cancer, and the investment will be used to advance the company’s programmes through early clinical trials.
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