New funds available to continue development of CAT-2003 for dyslipidemia
Catabasis Pharmaceuticals, Inc will continue the development of CAT-2003 for dyslipidemias and to expand the SMART Linker Technology Platform. A $32.4 million financing round has been completed.
“Catabasis has achieved a number of important milestones in the past year including positive
data from a Phase 1 studies of CAT-2003,” says Jean George of Lightstone Ventures, one of the investors. This has led to confidence in Catabasis’ pipeline of SMART Linker conjugates and its ability to successfully advance its clinical candidates.
Catabasis plans to use this funding to proceed the development of its lead compound, CAT-2003. This is a modulator of the lipid synthesis pathway, which is currently under investigation in a phase II clinical trial in patients with hypertriglyceridemia and in combination with statins in patients with hypercholesterolemia. In a phase I study in 99 healthy individuals, CAT-2003 as shown to significantly lower fasting and postprandial triglyceride levels without adverse effects. PCSK9 and LDL cholesterol levels were also lowered.
Furthermore, the proceeds will be used to support the continued clinical and pre-clinical development of other SMART Linker conjugates that are under development.
Catabasis press release November 15 2013