DURHAM, N.C.--(BUSINESS WIRE)--Regado Biosciences, Inc., a privately-held biopharmaceutical company focused on the discovery and development of antidote-controlled antithrombotics, announced today the completion of a $23 million Series C financing. New investor Caxton Advantage Life Sciences Fund (New York, NY) joined existing investors Domain Associates (Princeton, NJ) and Quaker BioVentures (Philadelphia, PA), to lead the financing with participation from original seed investor the Aurora Funds (Durham, NC), and other individual investors.
Regado’s technology enables the rational design of drug-antidote pairs against any target accessible to the bloodstream. The Company’s lead product, REG1, is the first specific, direct acting, antidote-controlled anticoagulant. Regado is developing the REG1 anticoagulation system as an antidote-reversible anticoagulant for use in coronary revascularization procedures (CABG and PCI), for use in patients suffering from acute coronary syndromes, and further as an anticoagulant for other indications in which it would be advantageous to employ an antidote-reversible agent for anticoagulant or antithrombotic therapy (e.g., DVT and VTE).
“We are excited about the prospects for Regado and its antidote-controlled therapeutic platform. The Company’s lead candidate, REG1, has the potential to address some key issues with today’s anticoagulants used in antithrombotic markets such as CABG, PCI, and ACS,” said Eric Roberts, Managing Director of Caxton Advantage. “Unlike existing agents, results suggest REG1 is easily dosed, has rapid onset, and importantly offers predictable, reversibility through its targeted aptamer-based antidote. We believe REG1 can lead to improved patient outcomes and we look forward to its continued development in Phase II trials.”
“This financing provides further validation of the Regado technology and will allow us to build on the progress generated to date,” commented Regado’s CEO Douglas Gooding. “This financing will allow us to continue the clinical development of REG1 in multiple indications. Given the clinical validation that we have seen with the first program we will be investing some of this new capital in pipeline development as well.”
“We are very excited about recent development progress at Regado, and we are convinced we have an extraordinary reversible anticoagulant drug profile emerging from the clinical data. We are pleased that Caxton Advantage has joined Domain, Quaker and Aurora in this round of financing,” noted the Company’s Chairman Jesse Treu, a General Partner with Domain Associates.
About Caxton Advantage Life Sciences Fund, L.P.
Caxton Advantage Life Sciences Fund, L.P. is a late-stage, life sciences investment fund focused on developmental stage public and private companies. The fund has a special emphasis on biotechnology and specialty pharmaceutical segments and makes investments in companies which are primarily developing drugs in various stages of clinical trials. The firm maintains offices in New York, NY.
About Domain Associates
Founded in 1985, Domain Associates, L.L.C. is a venture capital firm with an exclusive focus on life sciences. With $2.1 billion of capital under management, Domain has offices in Princeton, NJ and San Diego, CA. Domain’s three major investment segments are pharmaceuticals, specialty pharmaceuticals, and medical devices, while additional areas of interest include biomaterials, bioinstrumentation, and diagnostics. Domain has been involved in the creation and growth of approximately 200 companies over its 22-year history. The highly focused network, experience, and reputation of this team have made it one of the top private-equity groups participating in the healthcare field.
About Quaker BioVentures
Quaker BioVentures is a venture capital firm dedicated to investing in life science companies located in the Mid-Atlantic region. The firm leads investments in companies across the spectrum of the life science industry, including biopharmaceuticals, medical devices, human diagnostics, health information technology, and healthcare services. Quaker BioVentures invests in companies at varying stages of development, from early stage businesses to public companies.
About The Aurora Funds
Founded in 1994, The Aurora Funds provides capital, connections and strategic guidance to entrepreneurs with early-stage healthcare, life science and information technology companies. Aurora manages over $234 million across five venture funds and has the capacity to invest between $4 million and $8 million across multiple rounds of financing as the company matures. Aurora has invested in more than 60 companies across its five funds and has had numerous successful exits through IPOs and M&A transactions. For more information, visit www.aurorafunds.com.
Contacts
Regado Biosciences, Inc. Doug Gooding, (919) 287-9428 http://www.regadobiosciences.com/
