Lumira Capital leads $9 mln Series A funding of Vascular Pharmaceuticals
U.S. drug discovery company Vascular Pharmaceuticals Inc has raised US$9 million, bringing its total Series A financing to US$25 million. The expansion round was led by Canadian life sciences venture capital firm Lumira Capital. Other investors included Intersouth Partners and MPM Capital. With the round's closing, Lumira Capital's Beni Rovinski will join the company's board of directors. Based in Chapel Hill, North Carolina, Vascular Pharmaceuticals is focused on the development of new treatments for diabetic nephropathy. It will use funding proceeds to support Phase 2 clinical trials of its treatment program.
3 March 2015•3 mins read
