Proceeds Will Be Used to Progress Lead Program to Phase 1 Clinical Trials and Expand Pipeline Programs
CAMBRIDGE, Mass. — June 11, 2020 — Verve Therapeutics, a next-generation cardiovascular company developing therapies that safely edit the adult human genome to permanently reduce a person’s risk of coronary heart disease, today announced it has raised $63 million in a Series A2 financing from both existing and new investors. The Series A2 round was led by existing investor GV (formerly Google Ventures) with participation from current investors ARCH Venture Partners, F-Prime Capital, and Biomatics Capital. New investors Wellington Management and Casdin Capital also joined the round. This additional financing reflects the company’s strong preclinical progress to date and buildout of a world-class scientific team.
Launched in May 2019, Verve has raised a total of $123 million in funding. The company will use the financing to advance its lead program through IND-enabling studies and fuel follow-on pipeline programs. Verve is developing one-time, gene-editing therapies to safely edit targeted genes in the liver to permanently lower LDL cholesterol and triglycerides, key risk factors that cause coronary heart disease. Coronary heart disease, the leading cause of death in the U.S. and worldwide, develops when there is build up of cholesterol-laden plaque in the heart’s arteries.
“We are immensely grateful to our existing investors for their continued support and commitment to our bold vision to eradicate coronary heart disease, and are very pleased to welcome Wellington Management and Casdin Capital to our investor syndicate,” said Sekar Kathiresan, M.D., co-founder and chief executive officer of Verve. “This financing is a testament to the tremendous work by the Verve team and will position us to rapidly advance our lead therapeutic candidate through IND-enabling studies and expand our pipeline of development programs. People with heart disease are in urgent need of new therapeutic options, and Verve’s research to date further underscores the transformative potential of gene editing as a therapeutic approach for these patients.”
“Verve’s approach for a once-and-done treatment to address coronary heart disease has the potential to eliminate the leading cause of death in the world, similar to the way the polio vaccine changed history in the last century,” said Krishna Yeshwant, M.D., managing partner at GV. “Over the past year, Verve has made remarkable progress on their preclinical programs. The company has a world-class founding team that brings together all of the skills needed to execute on this mission, from human genetics to genome editing technologies to drug development and delivery.”
“Verve’s compelling vision and rapid progress are extremely exciting,” said Bob Deresiewicz, M.D., senior managing director and partner at Wellington Management. “We believe gene-editing technology for the treatment of coronary heart disease holds great promise. We look forward to partnering with the Verve team in its pursuit of groundbreaking medicines.”