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FoldRx Pharmaceuticals Inc., a small molecule therapeutics firm in Cambridge, has completed a $29 million funding round that it said would support the development and commercialization of tafamidis, its treatment for a genetic and potentially fatal neurodegenerative disease called TTR amyloid polyneuropathy.
FoldRx’s financing was led by new investors Novo Ventures and Morgenthaler Venturers, as well as return backers Fidelity Biosciences, Healthcase Ventures, TPG Biotechnology, Alta Partners and Novartis Venture Funds.
The funding has led to the FoldRx board of directors appointments of Morgenthaler Ventures’ Ralph Christofferson and Novo Ventures’ Heath Lukatch.
Tafamidis has also gone through Phase 2 clinic development to treat TTR amyloid cardiomyopathy, a disease that may lead to heart failure.
Last month, FoldRx appointed Georges Gemayel as executive chairman of the board of directors. Gemayel had previously served as president, CEO and director of Altus Pharmaceuticals Inc.
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