OrbiMed Leads Clementia Pharmaceuticals' $10M Series A
January 06, 2015
OrbiMed Advisors has led a $10 million addition to the Series A round of Clementia Pharmaceuticals, a clinical-stage biopharma focused on developing and commercializing therapies for rare diseases, bringing the Series A total to $32.5 million. Capital from the funding will be used to support development of the company's lead compound, palovarotene, which is currently in a Phase 2 trial. Palovarotene treats fibrodysplasia ossificans progressive, a genetic disease characterized by soft tissue swelling and new abnormal bone formation.