SAN DIEGO, Sept. 27 /PRNewswire/ -- Sequel Pharmaceuticals today
announced that it secured $20 million from the private placement of Series
A preferred stock to develop its drug candidate K201 (JTV-519) for the
treatment of atrial fibrillation (A-Fib). K201, which has a unique,
multi-ion channel profile, was spun-out from NovaCardia, Inc. following the
acquisition of NovaCardia by Merck & Co.
Previous NovaCardia investors Domain Associates, Forward Ventures,
InterWest Partners, Montreux Equity Partners, and Skyline Ventures
participated in the Series A.
"With a proven track record of licensing and developing drug candidates
for the treatment of cardiovascular disease, we are pleased to support the
Sequel management team as it ushers K201 through clinical trials and aims
to fill the void of treatment options for patients with atrial
fibrillation," said Eckard Weber, partner at Domain Associates.
"The management team is enthusiastic about the launch of Sequel
Pharmaceuticals and the ongoing support by blue-chip investors," said
Randall E. Woods, president and chief executive officer at Sequel
Pharmaceuticals. "The funding we have received will enable us to initiate
our Phase 2 clinical program for K201 for atrial fibrillation while we
simultaneously pursue novel drug candidates to build our pipeline in
cardiovascular disease."
About Atrial Fibrillation
A-Fib is a condition characterized by uncoordinated activity in the
upper chambers of the heart. It afflicts over 2.2 million people in the
United States and leads to over 440,000 hospitalizations per year,
according to the American Heart Association. Limitations of current
therapies for A-Fib include safety concerns and inadequate effectiveness.
About Sequel Pharmaceuticals
Sequel Pharmaceuticals is a privately held product-focused
pharmaceutical company with significant capabilities and experience in
cardiovascular drug development. The company is committed to improving the
quality of care for patients with cardiovascular disease by developing and
commercializing novel clinical-stage drug candidates. Additionally, Sequel
intends to grow its drug portfolio through in-licensing of additional
cardiovascular drug candidates.
SOURCE Sequel Pharmaceuticals
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Related links:
http://www.novacardia.com
CONTACT:
Brian Farmer of Sequel Pharmaceuticals,
+1-858-509-0455, bfarmer@sequelpharma.com; or Kim Richards of
Porter Novelli Life Sciences, +1-619-849-5377,
krichards@pnlifesciences.com, for Sequel Pharmaceuticals
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