Ben Dake (Source: Aerovate)

RA Cap­i­tal-backed Aerovate launch­es with $72.6M to treat PAH with a re­pur­posed can­cer med

The land­mark can­cer drug ima­tinib has been on the mar­ket since 2001, first sold by No­var­tis as Gleevec and in re­cent years as a gener­ic. Now, a new Boston biotech is aim­ing to re­pur­pose the drug as a treat­ment for pul­monary ar­te­r­i­al hy­per­ten­sion.

Aerovate emerged from stealth Thurs­day and an­nounced a $72.6 mil­lion Se­ries A, which will be used to de­vel­op and run tri­als for its can­di­date AV-101 — a dry pow­der ver­sion of ima­tinib meant to be used with an in­haler. The com­pa­ny emerged from RA Cap­i­tal’s in­cu­ba­tor and fund­ing was led by Sofinno­va.

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