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Catabasis Closes Series A Venture Capital Funding

Friday, April 23, 2010 5:31:00 AM PDT | VentureDeal Staff

Cambridge, Massachusetts  --  Catabasis Pharmaceuticals has raised $39.6 million in its first round of institutional venture capital investment.

Catabasis is developing a pharmaceutical candidate for treating type II diabetes, in addition to additional inflammatory and metabolic diseases.

Investors in the round included MedImmune Ventures, Clarus Ventures, SV Life Sciences and Advanced Technology Ventures.  The company said it would use the financing proceeds to advance its lead diabetes candidate.

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