Corthera pockets $23M in VC, names CEO

San Mateo, CA-based Corthera has closed a $23 million third round of venture capital. Caxton Advantage Life Sciences Fund joined A-list life science investors Domain Associates and Kleiner, Perkins, Caufield & Byers in providing the money. And Stan E. Abel, the co-founder of Cerexa, was named president and CEO. Its lead therapy is Relaxin, which is being developed to treat heart failure.

"Given Relaxin's beneficial hemodynamic properties, it is very well-suited for patients suffering from acute heart failure," said Rachel Leheny, Ph.D., managing director of Caxton Advantage Life Sciences Fund. "We are looking forward to working with the Corthera team as they develop Relaxin for this largely unmet medical need."

- read the release on the venture round

ALSO: Agile Therapeutics has raised an additional 5.6 million in its fifth round, bringing its Series E total to $17.6 million. Release