December 8, 2010

The Boston Globe

Catabasis secures $14.5m in Series A financing

Catabasis Pharmaceuticals said that it has achieved development milestones for its lead drug candidate that trigger a second tranche of $14.5 million in its Series A financing from current investors.

"In April, Catabasis announced it had completed a $39.6 million Series A financing led by SV Life Sciences, Clarus Ventures, MedImmune Ventures and Advanced Technology Ventures," Cambridge-based Catabasis said in a press release today. "Proceeds from the second tranche will be used to progress the company's lead compound to treat type 2 diabetes into clinical studies."

Catabasis describes itself as a biopharmaceutical company leveraging the therapeutic potential of omega-3 fatty acids and other well-characterized compounds to create dual action medicines for the treatment of inflammatory and metabolic diseases.