Pulmonary arterial hypertension therapy business Morphogen-IX has been backed by Cambridge Enterprise and Cambridge Innovation Capital in a $23.3m round.
Morphogen-IX, a UK-based developer of pulmonary arterial hypertension treatments based on University of Cambridge research, closed an £18.4m ($23.3m) series B round featuring the Cambridge Enterprise tech transfer office (TTO) yesterday.
Cambridge Innovation Capital, the patient capital fund founded by University of Cambridge, also took part in the round, which was led by life sciences-focused investment firm Medicxi.
Cambridge Enterprise Seed Funds was mentioned in the announcement, but it was unclear whether Cambridge Enterprise had invested through the vehicle.
Founded in 2015, Morphogen is developing drugs intended to combat pulmonary arterial hypertension, a condition that causes the walls in the pulmonary arteries in the heart to become rigid and difficult for blood to pass through.
The company hopes to reengineer a growth factor class known as bone morphogenetic protein 9 (BMP9) to reinforce blood vessels in the lung without inducing unwanted bone growth.
The capital…
