Other new investors are Bessemer Venture Partners and Red Abbey Venture Partners. In connection with the financing, Ron Hunt, a managing director of New Leaf Venture Partners, and Chris Gabrieli, a Partner of Bessemer Venture Partners, will join the company’s board of directors.
Mr Hunt, said: “Although the biology of fibrosis is increasingly well understood, this knowledge has not yet been translated into clinical benefit for patients. Stromedix is putting the pieces in place do this, acquiring an exciting molecule from a leading biotech company, designing and implementing a creative clinical trial strategy to evaluate its therapeutic utility and assembling an outstanding management team to execute its plan.”