Pharvaris Raises $80 Million to Advance HAE Therapy

Rare Daily Staff

Pharvaris, which is focused on the discovery and development of an oral treatment for hereditary angioedema and other bradykinin-B2-receptor-mediated indications, announced the close of its oversubscribed $80 million Series C financing bringing its total venture funding to more than $160 million to date.

Viking Global Investors and General Atlantic co-led the financing, with participation by Cormorant Asset Management. Current investors Foresite Capital, Bain Capital Life Sciences, VenBio Partners, and Venrock Healthcare Capital Partners also participated in the round.

The company said the financing will allow it to develop its pipeline of compounds for the treatment of HAE and other bradykinin-B2-receptor-mediated indications. Pharvis expects its phase 1 assessment in healthy volunteers at the end of the year and anticipates announcing top-line data in 2021.

Hereditary angioedema (HAE) is a rare and potentially life-threatening genetic condition with symptoms that include episodes of debilitating and often painful swelling in the hands, feet, face (lips and tongue), gastrointestinal tract, and the urogenital region or airways. Attacks are unpredictable in frequency, location, timing, and severity, with multiple types of triggers.

Pharvaris’ first product candidate, PHVS416, is a potent, orally available bradykinin B2-receptor antagonist designed to block the effects of bradykinin during HAE attacks. Bradykinin is a peptide that becomes elevated in HAE attacks and causes pain and swelling. The company expects to begin a phase 2 placebo-controlled on-demand study of PHVS416 in HAE patients in 2021. Pharvaris is also developing an orally available extended-release product containing pipeline compound PHA121 specifically for prophylaxis in HAE patients.

“Our team is committed to developing and delivering differentiated products to patients—the oversubscription of our Series C highlights broad enthusiasm for our vision for HAE and beyond,” said Berndt Modig, CEO and co-founder of Pharvaris.

Photo: Berndt Modig, CEO and co-founder of Pharvaris