Look­ing to re­pur­pose an old drug to treat ir­reg­u­lar heart­beats, In­Car­da rais­es $30M in first Se­ries C close

A lit­tle less than two years af­ter com­plet­ing its $42 mil­lion Se­ries B round, In­Car­da has re­turned to the ven­ture well.

The San Fran­cis­co-based biotech an­nounced the first por­tion of its Se­ries C on Wednes­day, pulling in $30 mil­lion in new fund­ing. Most of the mon­ey will give enough run­way for In­Car­da’s In­Rhythm pro­gram, an in­haled ther­a­peu­tic aim­ing to treat sud­den episodes of ir­reg­u­lar heart­beats, through its Phase II tri­als and pre­pare it for Phase III.

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