By Lisa Kerner
Erie, Pa., May 30 - FoldRx Pharmaceuticals, Inc. said it has raised $43 million in series B financing.
Proceeds will be used for the continued clinical development of the company's lead clinical candidate, Fx-1006A. The funds will also be used to advance FoldRx' pipeline focused on hereditary amyloidosis and neurodegenerative diseases, including Parkinson's disease.
Texas Pacific Group Ventures and Alta Partners led the financing round, which also included Novartis BioVenture Fund and original investors, HealthCare Ventures and Fidelity Biosciences.
Located in Cambridge, Mass., FoldRx is a development-stage biotechnology company specializing in small molecule therapeutics to treat diseases of protein misfolding and aggregation (amyloidosis).
| Issuer: | FoldRx Pharmaceuticals, Inc.
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| Issue: | Series B financing
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| Amount: | $43 million
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| Investors: | Texas Pacific Group Ventures (co-lead), Alta Partners (co-lead) Novartis BioVenture Fund, HealthCare Ventures, Fidelity Biosciences
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| Announcement date: | May 30
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