Chiasma
Inc., a privately owned biopharma company, introduced that it ended a $38.5
million equity financing co-led by new depositor Abingworth and current
depositor MPM Capital, which also included monetary resources from actual
shareholders 7 Med Health Ventures, ARCH Venture Companions, F3 Ventures and
Fredric Price, Chiasma's Chairman and CEO.
The
brand new investment is predicted to supply funding regarding the completion of
the Phase 3 pivotal program in acromegaly affected individuals for Octreolin,
the Company's proprietary investigational oral type of the peptide octreotide,
which is plotted out to be completed in the second quarter of 2013. It is also
meant to finance a clinical study regarding the Company's second product, a
little molecule to remain investigated as a possible therapy to produce a
complication of chronic kidney disease.
Vincent
Miles, PhD, Venture Companion at Abingworth as well as a newly-appointed participant
in the Board of Directors of Chiasma said,
"In the course of the last year, Chiasma has made considerable improvement
evidenced by the initiation of the Phase 3 clinical trial of Octreolin for
acromegaly, the preparation for a second sign - neuroendocrine tumors for
Octreolin and of course the completion of the required preclinical studies to
its next drug candidate, and that is expected to get in the clinic in the
existing quarter to produce a complication of CKD."
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