OrbiMed Advisors leads Series A round for Clementia Pharmaceuticals
Clementia Pharmaceuticals Inc has raised $22.5 million in a Series A financing round. OrbiMed Advisors led the round with participation from return backer BDC Venture Capital. Clementia has also agreed to acquire the global rights to palovarotene, a retinoic acid receptor gamma agonist from Roche Pharmaceuticals. No financial terms were disclosed. Based in Dorval, Québec, Clementia Pharmaceuticals is a clinical-stage biotechnology company focused on developing a treatment for fibrodysplasia ossificans progressiva. Update: The company, which was founded in 2010, secured its seed funding in 2012.
10 January 2014•5 mins read
