New Enterprise Associates leads $16m Series B for Edimer Pharmaceuticals


biotech_lrgVenture capital firm New Enterprise Associates (NEA) has led an $18m Series B round fro biotechnology startup Edimer Pharmaceuticals.

New investor Sanofi-Genzyme BioVentures and existing backers Third Rock Ventures and VI Partners also participated in the round.

The Cambridge, Massachusetts-headquartered company is focused on developing a therapy for the rare genetic disorder X-linked Hypohidrotic Ectodermal Dysplasia (XLHED). It plans to use the funds to advance later stage clinical development of XLHED treatment EDI200.

If fully developed and approved, EDI200 will be the first drug to treat the symptoms of the disorder.

NEA general partner David Mott said, “We are pleased to provide our capital and expertise to help further accelerate the exciting progress Edimer is making toward potentially offering a breakthrough therapy for infants affected by XLHED.

“With this financing in place, Edimer is poised to begin testing its novel therapeutic in affected newborns in the near future, and to offer the first real potential progress against this serious genetic disease.”

Earlier this month NEA led a $29.6m investment in medical devices maker CVRx alongside Johnson & Johnson Development Corporation.

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