Broadview Ventures Leads Series A Funding of Renovacor
The Choate life sciences team advised on the successful first closing of Renovacor’s Series A $11 Million funding round. The round was led by Broadview Ventures, Novartis Venture Fund, and BioAdvance, along with participation by New Leaf Venture Partners and Innogest Capital. Proceeds will be used to support Renovacor’s preclinical development through IND submission for its BAG3 gene therapy, the first gene replacement product for genetic forms of dilated cardiomyopathy.
Renovacor is a preclinical stage biotechnology company whose mission is to develop improved therapies for genetically derived cardiovascular diseases. The company is currently developing a gene therapy for a rare, familial form of dilated cardiomyopathy. Renovacor’s lead gene therapy product aims to restore cardiac function in patients with symptomatic heart failure due to BAG3 gene mutation.
The Choate corporate life sciences group advised Broadview Ventures as a lead investor and managed a large and diverse international syndicate. The Firm’s IP team performed patentability and FTO analyses in support of the investment.