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PhaseBio brings in $40mm in Series C financing led by AstraZeneca

Executive Summary

PhaseBio Pharmaceuticals Inc. (metabolic and cardiopulmonary therapies) raised $40mm through its Series C financing led by AstraZeneca, which was joined by returning shareholders New Enterprise Associates, Hatteras Venture Partners, Johnson & Johnson Development Corp., and Fletcher Spaght Ventures. Funds will help move into Phase IIa both its PE0139 for Type II diabetes and PB1046 for heart failure and cardiomyopathy in Duchenne and Becker muscular dystrophy. AstraZeneca’s Michael Gutch, PhD, takes a seat on PhaseBio's board, and Donald Dwyer joins as an observer.
Deal Industry
  • Biotechnology
    • Large Molecule
    • Synthesis Technologies, Production Processes
  • Pharmaceuticals
    • Drug Delivery
      • Controlled Release
Deal Status
  • Final
Deal Type
  • Financing
    • Private Placement

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