Boston – May 5, 2023 – Cooley advised Milestone Pharmaceuticals, a biopharmaceutical company focused on innovative cardiovascular medicines, on its $125 million strategic funding agreement with existing shareholder RTW Investments and certain of its affiliates. Lawyers Mischi a Marca, Ryan Sansom, Nicolas Dumont, Sarah Curry, Matt Kong, Winda Fung, Ryan Sonberg and Yoni Horn led the Cooley team.
The financing – along with its $64.6 million in cash, cash equivalents and short-term investments – is expected to fund Milestone until the middle of 2025, which includes the potential approval and launch of etripamil. Milestone plans to submit a New Drug Application for etripamil to the US Food and Drug Administration in Q3 2023. Etripamil is Milestone's calcium channel blocker, designed to allow patients with paroxysmal supraventricular tachycardia (PSVT) to treat their attacks outside of the hospital.
Milestone Pharmaceuticals is a biopharmaceutical company focused on the development and commercialization of innovative cardiovascular medicines. Milestone's lead product candidate etripamil recently completed its phase 3 clinical-stage program for the treatment of PSVT and is currently in a phase 2 proof-of-concept trial for the treatment of patients with atrial fibrillation with rapid ventricular rate (AFib-RVR). Milestone operates in Canada and the US.