Pharmacy Market

Cardurion Pharmaceuticals Announces Investment of up to $300 Million From Bain Capital

Cardurion Pharmaceuticals | October 28, 2021

Cardurion Pharmaceuticals, Inc a clinical-stage biotechnology company focused on the discovery and development of novel, next-generation therapeutics for the treatment of heart failure and other cardiovascular diseases, today announced it has received a private investment of up to $300 million from Bain Capital Life Sciences and Bain Capital Private Equity. Bain Capital joins existing investors, Takeda Pharmaceuticals and Polaris Partners, in supporting the evolution of Cardurion into a leading cardiovascular biotechnology company.

Based in Boston, Massachusetts and with facilities there and in Shonan, Japan, Cardurion’s mission is to transform the treatment of cardiovascular diseases by translating the science of cardiovascular signaling pathways into groundbreaking therapeutics. The Company’s innovative pipeline of cardiovascular drug candidates includes a PDE9 inhibitor and a CaMKII inhibitor program. The investment will support the thoughtful advancement of Cardurion’s pipeline, enable the Company to scale its team, and create an industry-leading platform.

We could not be more excited to welcome Bain Capital as investors in this transformational milestone for Cardurion We have a shared vision to continue to build a world-class cardiovascular company pursuing treatments for a broad range of debilitating diseases. This funding will allow us to advance our first-in-class PDE9 inhibitor into a major Phase 2 trial in heart failure and to support the initiation of first-in-human studies with our CaMKII inhibitor program in several cardiovascular indications. We look forward to leveraging the experience and resources of our investors to build and scale Cardurion as a leading cardiovascular biotechnology company.”

 Peter Lawrence, Chief Executive Officer of Cardurion

“This is an impressive team laser-focused on deep science, innovation, and collaboration in a strategically important therapeutic area where there is high unmet need for patients,” said Adam Koppel, M.D., PhD, a Managing Director at Bain Capital Life Sciences. “We look forward to a lasting partnership with Mike and Peter and their team, supporting the efforts to identify and develop novel therapies while building out a scale platform that can serve as a champion for cardiovascular drug development.”

“This investment will accelerate our progress as we work to create transformative new medicines that deliver value for patients and other key stakeholders,” said Michael E. Mendelsohn, M.D., Founder and Chairman of Cardurion. “Cardurion is dedicated to advancing novel mechanisms that yield new treatments for cardiovascular disease, which remains the greatest cause of morbidity and mortality in our society.”

In conjunction with Bain Capital’s investment, Koppel and Nicholas Downing, MD, a Principal at Bain Capital Life Sciences, will join the Cardurion Board of Directors.

About Cardurion Pharmaceuticals
Cardurion Pharmaceuticals is a clinical-stage biotechnology company focused on the discovery and 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., and built by a team of physician-scientists and industry leaders with extensive experience in cardiovascular science, drug development and business development, Cardurion Pharmaceuticals is pursuing unique drug discovery and development programs to target major unmet needs in cardiovascular medicine. Cardurion Pharmaceuticals has facilities in Boston, Massachusetts and Shonan, Japan. 

About Bain Capital
Founded in 1984, Bain Capital, LP is one of the world’s leading private multi-asset alternative investment firms with offices on four continents and deep experience in healthcare. Bain Capital manages approximately $150 billion across asset classes and leverages the firm’s shared platform to capture opportunities in strategic areas of focus. Bain Capital Private Equity has partnered closely with management teams to provide the strategic resources that build great companies and help them thrive. A team of more than 275 investment professionals creates value for portfolio companies through its global platform and depth of expertise in key vertical industries including healthcare. Bain Capital Life Sciences pursues investments in biopharmaceutical, specialty pharmaceutical, medical device, diagnostics and enabling life science technology companies globally. The team focuses on companies that both drive medical innovation across the value chain and enable that innovation to improve the lives of patients with unmet medical needs.

Spotlight

Injection systems that are attached to the patient's body (on-body delivery system OBDS) minimize possible risks, that can occur when drugs are administered by conventional needle-based injection systems (NIS). 

Spotlight

Injection systems that are attached to the patient's body (on-body delivery system OBDS) minimize possible risks, that can occur when drugs are administered by conventional needle-based injection systems (NIS). 

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Pharmacy Market

Everest Medicines Announces Commercial Launch and First Prescription for XERAVA® in China

PRNewswire | July 27, 2023

Everest Medicines a biopharmaceutical company focused on the development, manufacturing and commercialization of innovative medicines and vaccines, announced today XERAVA® (eravacycline) has been successfully launched in China with its first prescription issued at Huashan Hospital affiliated to Fudan University. The commercialization of XERAVA® in China marks Everest's transformation into a commercial-stage innovative biopharmaceutical company. XERAVA® is the world's first fluorocycline antibiotic for the treatment of infections caused by susceptible gram positive, gram negative and anaerobic pathogens including multidrug resistant ("MDR") isolates. It was approved by the National Medical Products Administration ("NMPA") of China for the treatment of complicated intra-abdominal infections ("cIAI") in adult patients in March 2023, and has been recommended by multiple treatment guidelines in China and globally, based on its broad bacterial spectrum coverage and high potency against multidrug-resistant bacterial infections. "The commercialization of XERAVA® in China is a significant milestone for Everest as a company, as this marks the beginning of Everest as a commercial-stage biopharma company. I want to thank everyone involved in bringing XERAVA® to a successful launch," said Rogers Yongqing Luo, Chief Executive Officer of Everest Medicines. "After the commercial launch, we will accelerate patient access to XERAVA® with a lean commercial team, following a highly efficient commercial strategy. The company will continue to advance the approval and commercialization of other first-in-class or best-in-class drug candidates such as Nefecon to further address urgent unmet needs in China and the rest of Asia." "Eravacycline has broad antibacterial spectrum and high potency against common clinical multi-drug resistant bacteria such as ESBL-producing bacteria, CRE, CRAB, MRSA and VRE," said Dr. Zhu Duming, leader and chief physician of the Critical Care Department at Zhongshan Hospital Affiliated with Fudan University. "It has been recommended by authoritative guidelines at home and abroad for the treatment of MDR Gram-negative bacterial infections. The launch of eravacycline in China will help doctors tackle the challenges of clinical drug resistance." "Patients with malignant hematological diseases have a high incidence of neutropenia and fever caused by radiotherapy, chemotherapy, and hematopoietic stem cell transplantation. Antibacterial treatment is very important for patients with neutropenia and fever as MDR/Carbapenem-resistant Organism ("CRO") infections have high mortality rates," said Sun Aining, chief physician at the First Affiliated Hospital of Soochow University. "As the world's first fluorocycline antibiotic, eravacycline has completed phase II/III clinical trials and multiple real-world studies around the world to demonstrate that it has good clinical efficacy and safety profiles. It is an innovative choice for the treatment of MDR/CRO infections." In addition to XERAVA®, Everest anticipates the launch of three additional innovative drugs in China over the next two years, including Nefecon, the first-in-disease treatment for adults with primary immunoglobulin A nephropathy (IgAN) and expected to be approved in China in the second half of this year. In the infectious disease space, Everest is actively developing other important drug candidates to meet the urgent demand for innovative antibacterial treatment. The company plans to file New Drug Application for cefepime-taniborbactam in China this year for complicated urinary tract infection. In immunology, etrasimod is a next-generation, oral selective sphingosine 1-phosphate (S1P) receptor modulator with a differentiated efficacy and safety profiles. The company aims to submit NDA in Everest territories as soon as possible. About XERAVA® XERAVA® is a novel, fully synthetic, fluorocycline intravenous antibiotic for the treatment of infections caused by susceptible gram-positive , gram-negative and anaerobic pathogens including those multidrug resistant ("MDR") isolates. XERAVA® is currently approved for the treatment of complicated intra-abdominal infections in the US, EU, GB, Singapore, mainland China, Hong Kong and the medicine is currently under review for cIAI in Taiwan region. XERAVA® was licensed from Tetraphase Pharmaceuticals, Inc., a wholly owned subsidiary of Innoviva, Inc. About Everest Medicines Everest Medicines is a biopharmaceutical company focused on developing, manufacturing and commercializing transformative pharmaceutical products and vaccines that address critical unmet medical needs for patients in Asian markets. The management team of Everest Medicines has deep expertise and an extensive track record from both leading global pharmaceutical companies and local Chinese pharmaceutical companies in high-quality discovery, clinical development, regulatory affairs, CMC, business development and operations. Everest Medicines has built a portfolio of potentially global first-in-class or best-in-class molecules in the company's core therapeutic areas of renal diseases, infectious diseases and autoimmune disorders.

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Pharmacy Market

Nexus Pharmaceuticals Receives FDA Approval for Sterile Water for Injection, USP

Businesswire | July 26, 2023

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PHARMACY MARKET

Cytel continues expansion of market access and medical communication capabilities with the acquisition of co.faktor

businesswire | September 28, 2023

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