Summary:
Cardurion Pharmaceuticals, a startup developing cardiovascular drugs, raises $260 million in Series B funding.
The investment is led by Ascenta Capital, a new VC firm founded by former Moderna executives Lorence Kim and Evan Rachlin.
Ascenta distinguishes itself by prioritizing patient interaction, bringing entire startup teams to meet with patients before investing.
This investment highlights the potential of Cardurion's drug candidates and the growing interest in innovative solutions for cardiovascular disease.
Ex-Moderna Execs Launch VC Fund and Back $260 Million Cardiovascular Startup
Cardurion Pharmaceuticals, a startup founded seven years ago with shelved cardiovascular drug candidates from Takeda Pharmaceuticals, has secured $260 million in Series B funding. This investment was led by Ascenta Capital, a new venture capital firm founded by Lorence Kim, Moderna’s former finance chief, and Evan Rachlin, Moderna’s former head of strategy.
Ascenta, which began quietly making biotech investments while raising its first fund, distinguishes itself with a patient-centric approach. Before investing in a startup, Ascenta brings the entire team, including administrative staff, to meet with patients affected by the diseases the startup is tackling.
Rachlin emphasizes the importance of this direct patient interaction, stating, “You’ve got to pull from the patients. It sounds redundant, but I’m a doc. I took an oath.”
This investment underscores the potential of Cardurion's two drug candidates currently in mid-stage clinical trials. It also highlights the growing interest in cardiovascular disease solutions, an area that has seen limited progress in drug development despite the significant burden of heart disease globally.
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