Cardioxyl Pharmaceuticals of Towson, MD has pocketed $14.5 million in its first round of venture capital. Much of the money will go to developing its nitroxyl donor program for the treatment of acute decompensated heart failure. The Aurora Funds and New Enterprise Associates co-led the round. Cardioxyl's initial program is based on technology developed at Johns Hopkins University by David Kass, M.D., John P. Toscano, Ph.D., Nazareno Paolocci, M.D., Ph.D., and their scientific collaborators.
- here's the release on the venture round
ALSO: Aushon BioSystems of Burlington, MA, which provides microarray-based tools, instrumentation and services, has raised $7.78 million in their first round. Release