River BioMedics, a cardiovascular drug discovery company using proprietary, cutting edge, 3D human cardiac models, today announced the closure of a €2 million financing round to progress its pipeline of novel genetically validated cardiovascular disease programs. Libertatis Ergo Holding, an independent subsidiary of Leiden University joins the investment syndicate alongside further investment from existing investors FIRST fund, managed by BioGeneration Ventures (BGV), KIKK Capital and Oost NL.
River BioMedics portfolio is focused on addressing the significant unmet need in cardiac disease, with an initial focus on Heart Failure. Its multi-faceted drug discovery approach aims to address the historical translation challenges in CVD – combining novel genetically validated cardiac targets and integrated in-vitro human cardiac models to enhance clinical predictability and address the underlying disease. The €2 million proceeds will be used to further progress compound development for its lead program focused on heart failure with preserved ejection fraction (HFpEF) and drive continued efforts on its earlier stage pipeline.
Heart failure affects 64 million people worldwide with around half of these individuals suffering from Heart Failure with preserved Ejection Fraction (HFpEF). There are few approved treatment options for HFpEF none of which address the underlying disease. This, alongside the conditions’ increasing prevalence make it an area of high unmet medical need.
Dr Nicky Cooper, Chief Executive Officer, River BioMedics, says: “I am delighted to close this funding round which reflects the confidence of our existing investors along with the commitment of Liberatis Ergo Holdings which we welcome greatly. This commitment further validates the efforts River BioMedics has made since the company was founded, and the exciting potential of the novel cardiac targets we are developing and our integrated in-vitro human cardiac models to maximise the pre-clinical to clinical efficacy translation of our portfolio. Moreover, it will allow our lead program to progress further towards lead selection, with the aim to address a significant unmet medical need in heart failure patients.”
Rob Mayfield, Managing Director, Libertatis Ergo Holding, says: “We are proud to be part of this shared mission addressing the unmet need in cardiac disease, together with the exceptional team at River and world class research”
