November 15, 2013

Xconomy

Catabasis Scores $32M Series B Round With IPO in Sight

When investors better known for backing public companies jump into a startup’s private financing round, it’s typically a signal that an IPO is on the way. That looks to be the case for Cambridge, MA-based Catabasis Pharmaceuticals.

Catabasis is announcing today that it has raised $32.4 million in equity financing through a Series B round from existing investors and new ones, including an unspecified public crossover fund. New backer Lightstone Ventures joined Catabasis’ existing funding syndicate, which is comprised of SV Life Sciences, Clarus Ventures, MedImmune Ventures, and Advanced Technology Ventures. Catabasis CEO Jill Milne wouldn’t disclose the name of the new public crossover investor, but says that Catabasis has now raised $83 million since its inception in 2008. That figure includes the new round, a $40 million Series A in April 2010 that investors have since boosted to $46 million, and the original angel investment that got the company going five years ago, according to CFO Ian Sanderson.

To read the full article, visit: http://www.xconomy.com/boston/2013/11/15/catabasis-scores-32m-series-b-round-ipo-sight/