PhaseBio Pharmaceuticals Inc. secured $15.6m to support clinical development of its recently expanded pipeline of treatments for orphan diseases. The new funding announced on Nov. 29 includes a $7.5m term loan facility with Silicon Valley Bank, which will be received in three tranches – $3.5m upon closing and two additional $2m tranches. The company also drew down the remaining $8.1m of a prior convertible note financing, which was backed by New Enterprise Associates, AstraZeneca PLC, Johnson & Johnson Innovation – JJDC, Hatteras Venture Partners, Fletcher Spaght Ventures and Syno Capital. The financing will support a Phase II clinical trial for PB1046 in pulmonary arterial hypertension and a Phase I trial for PB2452, a recently acquired reversal agent for AstraZeneca's anticoagulant Brilinta (ticagrelor). PhaseBio revealed on Nov. 28 that it licensed PB2452 from AstraZeneca's MedImmune subsidiary.

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