64 million euros for Cardior

The biotech company from Hanover is delighted with an oversubscribed Series B financing round. The start-up now wants to press ahead with the development of its heart drug.

The biotech start-up Cardior from Lower Saxony has successfully completed its Series B financing round. The Hanover-based company announced that the round was oversubscribed, with both new and existing investors contributing a total of 64 million euros. New investor Inkef Capital led the round, with Fund+, Sunstone, Hadean Ventures and Coparion also joining in. The existing investors LSP, BioMedPartners, Bristol Myers Squibb and High-Tech Gründerfonds are further increasing their support.

Cardior is working on active substances based on so-called non-coding RNA (ncRNA). The company's most promising product is an active ingredient against heart disease, which can now enter the next phase of clinical trials thanks to the new funding. "We believe that ncRNAs can fundamentally change the treatment of heart disease by preventing, repairing and reversing damage to heart tissue," said Claudia Ulbrich, CEO and co-founder of Cardior: "We thank our new and existing investors for their support and their confidence in our ability to achieve our goal."

Ulbrich, a health economist, founded the company in 2016 with heart specialist Thomas Thum. It is a spin-off of the Hannover Medical School. In addition to the cardiac drug, which is already well advanced, Cardior also intends to use the capital to develop new drugs based on ncRNA. According to Ulbrich, the aim is to create the conditions for a new class of drugs.