Renovacor

About Renovacor

Renovacor, Inc. operated as a preclinical stage biotechnology company, founded in 2013 by Arthur Feldman, M.D., Ph.D., based on a decade of his research at Temple University's Lewis Katz School of Medicine. The company focused on developing gene therapies for genetically-driven cardiovascular diseases, particularly those associated with BAG3 gene mutations.

The company's core business was centered on creating precision treatments for patients with severe, genetically-linked heart conditions. Its business model involved advancing its therapeutic candidates through preclinical and clinical trials to eventually secure regulatory approval and commercialize these therapies. The primary clients were patients suffering from specific genetic cardiovascular diseases with high unmet medical needs. A significant milestone was achieved in August 2019 when Renovacor secured $11 million in a Series A financing round, co-led by investors including Novartis Venture Fund and Broadview Ventures, to advance its lead program. The company went public in September 2021 through a reverse merger with Chardan Healthcare Acquisition 2 Corp., a special purpose acquisition company (SPAC), which raised approximately $95.1 million in gross proceeds.

Renovacor's lead product candidate was REN-001, an adeno-associated virus (AAV)-based gene therapy designed to treat BAG3-associated dilated cardiomyopathy (DCM). This condition is a severe form of heart failure caused by a mutation in the BAG3 gene, leading to an enlarged left ventricle and reduced pumping ability. REN-001 aimed to deliver a healthy version of the BAG3 gene directly to heart muscle cells, thereby restoring normal gene function, improving heart contractility, and preventing the progression of the disease. The therapy held the potential to be a one-time, transformative treatment for a patient population that is often younger and experiences rapid disease progression with a 50% five-year survival rate.

In a strategic move to expand its leadership in AAV-based cardiac gene therapy, Rocket Pharmaceuticals entered into a definitive agreement to acquire Renovacor in September 2022. The all-stock transaction was valued at approximately $53 million. The acquisition was completed on December 1, 2022, after which Renovacor ceased trading on the NYSE and became a subsidiary of Rocket Pharmaceuticals.