Cardurion Pharmaceuticals Announces Investment from Polaris Partners and Appoints Amy Schulman to Board of Directors
BOSTON, Mass. – November 20, 2019 – Cardurion Pharmaceuticals, a biotechnology company focused on the development of novel, next-generation therapeutics for the treatment of heart failure and other cardiovascular diseases, today announced that it has consummated a private investment from Polaris Partners, a leading healthcare investment firm with a long history of partnering with entrepreneurs in biotechnology. Polaris Partners joins existing investor Takeda Pharmaceuticals. As part of the investment, Amy W. Schulman, a managing partner at Polaris Partners, will join the Cardurion Board of Directors.
“We are honored to have Polaris Partners, with its long history of leadership in biotechnology investing and company building, partner with us as we pursue novel drugs to treat cardiovascular diseases, and we are especially pleased to have Amy Schulman of Polaris bring her deep strategic and leadership experience to our board,” said Dr. Michael E. Mendelsohn, founder and chairman of Cardurion Pharmaceuticals. “Cardurion is dedicated to advancing novel mechanisms to create new treatments for cardiovascular diseases, which remain the greatest cause of morbidity and mortality in our society. Our lead clinical program studying CRD-733, a novel phosphodiesterase-9 enzyme (PDE9) inhibitor, is in development for the treatment of heart failure, which remains a major cause of death in our society. Our two discovery programs focus on unique molecular targets for other cardiovascular diseases, including both rare and more common arrhythmia disorders.”
Amy W. Schulman, a managing partner at Polaris Partners who will be joining Cardurion’s board, noted that cardiovascular disease affects millions of people in the United States alone. “This area of clear critical need, coupled with Michael’s deep expertise in the field, were important factors in Polaris’ decision to invest. Cardurion’s robust pipeline programs, led by a PDE9 inhibitor already in the clinic for the treatment of both forms of heart failure, are also factors underscoring Polaris’ enthusiasm for this platform.”
The securities issued have not been registered under the Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration under the Securities Act and applicable state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful.
About Cardurion Pharmaceuticals
Cardurion Pharmaceuticals is a biotechnology company with both clinical and preclinical programs focused on the development of novel, next-generation therapeutics for the treatment of heart failure and other cardiovascular diseases. Founded by physician-scientist Michael E. Mendelsohn, M.D., with extensive experience in cardiovascular science, medicine and drug development, Cardurion Pharmaceuticals is pursuing unique drug discovery and development programs targeting major unmet needs in cardiovascular medicine. Cardurion Pharmaceuticals has facilities in Boston, Massachusetts and Shonan, Japan. For more information, please visit the company’s website at http://www.cardurion.com.
About Polaris Partners
Polaris Partners has a 20-plus year history of partnering with repeat entrepreneurs and world-class innovators who are improving the way we live and work. The multibillion-dollar firm manages specialty and diversified funds in healthcare and technology with investments across all stages. Polaris has offices in Boston and San Francisco. Learn more at polarispartners.com.
Investor and Media Contact
Michael E. Mendelsohn, M.D.