PhaseBio Pharmaceuticals has closed a $40 million Series C financing round led by AstraZeneca.
Investment by AstraZeneca and existing investors New Enterprise Associates, Hatteras Venture Partners, Johnson & Johnson Innovation – JJDC and Fletcher Spaght Ventures will enable progression of PhaseBio’s once-weekly insulin (PE0139) into Phase 2a testing for type 2 diabetes and once-weekly Vasoactive Intestinal Peptide (PB1046) into separate Phase 2a trials for heart failure and for cardiomyopathy in Duchenne and Becker muscular dystrophy.
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