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ARTICLE | Financial News

Chondrial raising $22.6M, gets Friedreich's candidate

Jaime De Leon

February 6, 2017 11:54 PM UTC

Rare disease company Chondrial Therapeutics Inc. (Bala Cynwyd, Pa.) said it is raising up to $22.6 million in a series A led by Deerfield. Wake Forest Innovations' Catalyst Fund, which is managed by Pappas Capital, also participated. The funding is tranched based on undisclosed milestones.

The company also said it had obtained exclusive, worldwide rights to Friedreich's ataxia candidate CTI-1601 from Indiana University Research and Technology Corp. and Wake Forest Innovations, the commercialization arm of Wake Forest Baptist Medical Center...

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