Welcome!

News Feed Item

Heart Metabolics Limited Launched in Ireland with $20 Million Series A Financing

DUBLIN, April 17, 2014 /PRNewswire/ -- Heart Metabolics Limited, a new Irish biotechnology company focused on development of drugs for cardio-metabolic diseases, has announced the completion of a $20 million Series A financing from venBio, Seroba Kernel Life Sciences, Brandon Capital Partners (on behalf of AustralianSuper) and AshHill. The proceeds from this financing have supported Heart Metabolics Limited in acquiring a Phase 3-ready drug candidate and related preclinical drug candidates from a U.K. company, HMBL Limited (formerly known as Heart Metabolics Limited), and will support the company moving these drug candidates forward.  

"We are excited to raise the funds necessary from high caliber investors to accelerate the development of perhexiline in a pivotal Phase 3 clinical trial," said Peter Milner, M.D., CEO of Heart Metabolics Limited, cardiovascular clinician and serial entrepreneur (including co-founder of CV Therapeutics). "Based on previous clinical data, we believe this drug will be an effective therapy for the rare but deadly heart disease, hypertrophic cardiomyopathy."

Hypertrophic cardiomyopathy ("HCM") is one of the most common of all hereditary heart diseases.  Heart Metabolics is developing perhexiline as a new therapy for congestive heart failure symptoms in HCM. The current treatment options for severe HCM are limited, with no FDA approved drugs for these patients. On the heels of positive Phase 2 clinical results for perhexiline in HCM in the U.K., and a strong intellectual property position, the company is focusing its efforts on obtaining a Special Protocol Assessment (SPA) from the FDA in 2014 for its pivotal Phase 3 clinical trial that will commence in early 2015. The drug has orphan drug designation in the United States from the FDA and the company is seeking orphan drug designation in the EU. In addition, the company has a second drug candidate in preclinical development for an undisclosed indication of high unmet medical need. 

Added Corey Goodman, Ph.D., managing partner of venBio, "We look forward to working with a terrific management team, clinical experts and group of investors to move this promising drug forward into a Phase 3 clinical trial for patients suffering from this serious orphan disease."

Joining Drs. Goodman and Milner on the board of directors are Robert Adelman, M.D., managing partner of venBio, Alan O'Connell, Ph.D., partner of Seroba Kernel Life Sciences, and Stephen Thompson, Ph.D., managing director of Brandon Capital Partners.

About Heart Metabolics

Heart Metabolics Limited is a biopharmaceutical company developing new treatments for cardio-metabolic diseases. The company's lead product candidate, perhexiline, has completed Phase 2 clinical trials as a treatment for hypertrophic cardiomyopathy (HCM).  The company has obtained orphan designation from the FDA for the use of perhexiline as first line treatment for moderate-to-severe heart failure due to HCM. Headquartered in Dublin, Ireland, the company is backed by venBio, Seroba Kernel Life Sciences, Brandon Capital Partners (on behalf of AustralianSuper) and AshHill. www.HeartMetabolics.com.

SOURCE Heart Metabolics

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Enterprise networks are complex. Moreover, they were designed and deployed to meet a specific set of business requirements at a specific point in time. But, the adoption of cloud services, new business applications and intensifying security policies, among other factors, require IT organizations to continuously deploy configuration changes. Therefore, enterprises are looking for better ways to automate the management of their networks while still leveraging existing capabilities, optimizing perf...
SYS-CON Events announced today that Tintri Inc., a leading producer of VM-aware storage (VAS) for virtualization and cloud environments, will exhibit at the 18th International CloudExpo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, New York, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
SYS-CON Events announced today that ContentMX, the marketing technology and services company with a singular mission to increase engagement and drive more conversations for enterprise, channel and SMB technology marketers, has been named “Sponsor & Exhibitor Lounge Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York City, New York. “CloudExpo is a great opportunity to start a conversation with new prospects, but what happens after the...
In the rush to compete in the digital age, a successful digital transformation is essential, but many organizations are setting themselves up for failure. There’s a common misconception that the process is just about technology, but it’s not. It’s about your business. It shouldn’t be treated as an isolated IT project; it should be driven by business needs with the committed involvement of a range of stakeholders.
The IoTs will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform. In his session at @ThingsExpo, Craig Sproule, CEO of Metavine, will demonstrate how to move beyond today's coding paradigm and share the must-have mindsets for removing complexity from the development proc...
SYS-CON Events announced today that EastBanc Technologies will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. EastBanc Technologies has been working at the frontier of technology since 1999. Today, the firm provides full-lifecycle software development delivering flexible technology solutions that seamlessly integrate with existing systems – whether on premise or cloud. EastBanc Technologies partners with p...
SYS-CON Events announced today that AppNeta, the leader in performance insight for business-critical web applications, will exhibit and present at SYS-CON's @DevOpsSummit at Cloud Expo New York, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. AppNeta is the only application performance monitoring (APM) company to provide solutions for all applications – applications you develop internally, business-critical SaaS applications you use and the networks that deli...
The cloud era has reached the stage where it is no longer a question of whether a company should migrate, but when. Enterprises have embraced the outsourcing of where their various applications are stored and who manages them, saving significant investment along the way. Plus, the cloud has become a defining competitive edge. Companies that fail to successfully adapt risk failure. The media, of course, continues to extol the virtues of the cloud, including how easy it is to get there. Migrating...
As organizations shift towards IT-as-a-service models, the need for managing and protecting data residing across physical, virtual, and now cloud environments grows with it. Commvault can ensure protection, access and E-Discovery of your data – whether in a private cloud, a Service Provider delivered public cloud, or a hybrid cloud environment – across the heterogeneous enterprise. In his general session at 18th Cloud Expo, Randy De Meno, Chief Technologist - Windows Products and Microsoft Part...
WebRTC is bringing significant change to the communications landscape that will bridge the worlds of web and telephony, making the Internet the new standard for communications. Cloud9 took the road less traveled and used WebRTC to create a downloadable enterprise-grade communications platform that is changing the communication dynamic in the financial sector. In his session at @ThingsExpo, Leo Papadopoulos, CTO of Cloud9, will discuss the importance of WebRTC and how it enables companies to fo...
As machines are increasingly connected to the internet, it’s becoming easier to discover the numerous ways Industrial IoT (IIoT) is helping to shape the business world. This is exactly why we have decided to take a closer look at this pervasive movement and to examine the desire to connect more things! Now if you need a refresher on IIoT and how it is changing the world, take a moment and listen to Greg Gorbach with ARC Advisory Group. Gorbach believes, "IIoT will significantly change the worl...
SYS-CON Events announced today the Docker Meets Kubernetes – Intro into the Kubernetes World, being held June 9, 2016, in conjunction with 18th Cloud Expo | @ThingsExpo, at the Javits Center in New York, NY. Register for 'Docker Meets Kubernetes Workshop' Here! This workshop led by Sebastian Scheele, co-founder of Loodse, introduces participants to Kubernetes (container orchestration). Through a combination of instructor-led presentations, demonstrations, and hands-on labs, participants learn ...
The IoT is changing the way enterprises conduct business. In his session at @ThingsExpo, Eric Hoffman, Vice President at EastBanc Technologies, discuss how businesses can gain an edge over competitors by empowering consumers to take control through IoT. We'll cite examples such as a Washington, D.C.-based sports club that leveraged IoT and the cloud to develop a comprehensive booking system. He'll also highlight how IoT can revitalize and restore outdated business models, making them profitable...
SYS-CON Events announced today that MangoApps will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. MangoApps provides modern company intranets and team collaboration software, allowing workers to stay connected and productive from anywhere in the world and from any device. For more information, please visit https://www.mangoapps.com/.
In his session at 18th Cloud Expo, Andrew Cole, Director of Solutions Engineering at Peak 10, will discuss how the newest technology advances are reducing the cost and complexity of traditional business continuity and disaster recovery solutions. Attendees will: Learn why having a full disaster recovery strategy is more important now than ever before Explore the key drivers of a successful disaster recovery solution Achieve measurable operational and business value from a disaster recovery ...