Cardioxyl Pharmaceuticals, a venture capital-backed startup focused on cardiovascular disease, has raised just mover $25 million in new venture capital financing.
The company said in at SEC filing that it closed on $28,050,000 in equity funding on Oct. 24.
The filing cites five unnamed investors as funding the round.
Utilizing technology developed at Johns Hopkins University, Cardioxyl raised $10 million in 2010 and $9 million in 2009.
The lead compound, CXL-1020, is intended as a treatment for acute decompensated heart failure, or ADHF. It’s the top hospitalization cause for patients over 65 years of age.
A year ago, Caridoxyl published a report noting that “CXL-1020’s safety and tolerability in people who have stable congestive heart failure (CHF), a good predictor of safety in people with acute decompensated heart failure (ADHF)” in clinical trials.
Cardioxyl backers include Aurora Funds, which is based in the Triangle, and New Enterprise Associates.
“We believe that CXL-1020 is the only cardiovascular product in development that provides the ideal balance of blood vessel dilation combined with direct enhancement of cardiac diastolic and systolic function,” said Chris Kroeger, a medical doctor, and chief executive officer of the firm, 2010 when the company announced the launched of a Phase 2 clinical trial.