Upstart biotech nabs Roche drug, $22.5M A round

An upstart Canadian biotech dubbed Clementia Pharmaceuticals has closed a $22.5 million A round led by OrbiMed and licensed in a drug from Roche ($RHHBY) it plans to develop for a rare bone disorder called fibrodysplasia ossificans progressiva. Roche had initially tried to develop palovarotene for COPD but failed in the effort. Dr. Jean-Claude Tardif, a professor of medicine at Université de Montreal, and Dr. Clarissa Desjardins co-founded the company with an eye to in-licensing drugs from Big Pharma. Release

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