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Cardioxyl Pharmaceuticals Raises $28 Million In Series B Financing Led By OrbiMed Advisors
Date:11/13/2012

CHAPEL HILL, N.C., Nov. 13, 2012 /PRNewswire/ -- Cardioxyl Pharmaceuticals, Inc. announced today that it has raised $28 million in a Series B financing led by OrbiMed Advisors.  New investor Osage University Partners joined OrbiMed and returning investors New Enterprise Associates (NEA) and The Aurora Funds in the financing. Proceeds from this latest round will be used to further advance Cardioxyl's second-generation nitroxyl (HNO) donor programs for the treatment of acute and chronic heart failure.  In conjunction with OrbiMed's role as lead investor in this funding round, OrbiMed Venture Partners Peter Thompson, M.D., and Anthony G. Johnson, M.D., have joined the Cardioxyl Board of Directors.  Bill Harrington, M.D., led the financing for Osage University Partners.

"OrbiMed has a strong track record of identifying innovative and successful companies within the healthcare industry. The firm's commitment, along with that of Osage, NEA and Aurora, creates an outstanding investor syndicate," said Chris Kroeger, M.D., President and Chief Executive Officer of Cardioxyl. "We are also very pleased to welcome Peter Thompson and Tony Johnson to the Cardioxyl Board. Their extensive drug development and leadership experience in the pharmaceutical industry will be invaluable as we advance HNO drug candidates to help improve the health and quality of life for patients with heart failure."

Peter Thompson, M.D., is a Venture Partner with OrbiMed with over 20 years of industry experience. He co-founded and was CEO of Trubion Pharmaceuticals; co-founded Cleave BioSciences; serves on the Boards of Cleave, Anthera, Methylgene, Principia Biosciences, and Response Biomedical; and previ
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SOURCE Cardioxyl Pharmaceuticals, Inc.
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