Previously known as ChanRx, Laguna Pharmaceuticals is advancing vanoxerine, a Phase 3–ready therapeutic candidate for atrial fibrillation (AF) and atrial flutter (AFL). The company intends to use funds from its recent financing to progress Phase 3 clinical development of vanoxerine. In a Phase 2b study, a 400 mg dose demonstrated statistically significant conversion from AF to normal sinus rhythm, with response rates approaching those typically achieved with direct current cardioversion. Clinical studies to date have shown positive safety and tolerability. Laguna is led by co-founder and chief medical officer Howard Dittrich and newly named CEO Bob Baltera. The company completed a $30M Series B financing to support its development plans. ChanRx is a Cleveland, OH–based company developing vanoxerine, a drug candidate for the treatment of atrial fibrillation (AFIB). The company plans to use new capital to further evaluate the safety and efficacy of vanoxerine in an escalating‑dose Phase IIb study. AFIB is noted in the article as the most common cardiac rhythm disorder, affecting over 2 million people in the United States. ChanRx was spun out of ion channel services company ChanTest in 2006. The company is led by CEO R.K. Khosla. The article does not disclose commercial revenues or other operating metrics. ChanRx is a Cleveland, Ohio–based spin-out from ChanTest developing Vanoxerine, an anti-arrhythmia pharmaceutical compound aimed at treating atrial fibrillation. Vanoxerine has already demonstrated the ability to restore normal heart rhythm in a human clinical study. The company is focused on completing development of an intravenous formulation of Vanoxerine to enable quicker absorption and increased speed to efficacy compared with other deliveries. ChanRx raised $250,000 from JumpStart Ventures and is receiving entrepreneurial development assistance from JumpStart Venture Partner Kevin Mendelsohn to support this work. Atrial fibrillation affects about two million Americans with roughly 200,000 new cases diagnosed each year, underscoring the potential clinical need ChanRx targets.

Total raised

$30M

Funding rounds

3

Latest round

Series B

Latest activity

Feb 2015