Ascendis Pharma AS Completes $60 Million Oversubscribed Series D Financing
Utrecht, The Netherlands and Copenhagen, Denmark - Ascendis Pharma A/S, a biopharmaceutical company that applies its innovative TransCon technology to address significant unmet medical needs, today announced the successful completion of a $60 million Series D financing. New investors were co-led by U.S.-based Sofinnova Ventures, OrbiMed and Vivo Capital, and included Janus Capital Management LLC, Venrock, RA Capital Management, Rock Springs Capital and Sectoral Asset Management.
The proceeds from the Series D financing will be used to fund late-stage clinical trials of TransCon Growth Hormone for the treatment of growth hormone deficiency, or GHD, and in 2015, to initiate a Phase 1 proof-of-concept program of TransCon Treprostinil to treat pulmonary arterial hypertension. Proceeds are also expected to be used to support drug manufacturing, advance the development of preclinical drug candidates, and to enhance the Ascendis Pharma clinical development and research organizations.
Gilde Healthcare has supported the company since 2007 when it acted as co-founding investor.
About Ascendis Pharma A/S
Ascendis Pharma is applying its innovative TransCon technology, which combines the benefits of prodrug and sustained release technologies, to develop a pipeline of best?in?class therapeutics that address significant unmet medical needs. The TransCon technology can be applied to existing drug therapies, including proteins, peptides and small molecules, to create prodrugs that provide for the predictable and sustained release of an unmodified parent drug.
Ascendis Pharma has a diversified and balanced pipeline. TransCon Growth Hormone is a proprietary program that has completed a Phase 2 study in adults with growth hormone deficiency, or GHD, and is currently enrolling children with GHD in a Phase 2 study. Ascendis Pharma is also developing TransCon Treprostinil for the treatment of pulmonary arterial hypertension. In addition to its proprietary programs, Ascendis Pharma has formed collaborations focused on leading products in large markets that are of strategic importance to its collaboration partners. These collaborations are with Sanofi in diabetes and an undisclosed market leader in the field of ophthalmology.
About Gilde Healthcare
Gilde Healthcare (Utrecht, The Netherlands and Cambridge, Massachusetts) is a transatlantic growth capital investor focused on private healthcare companies. It has over €550 million ($700 million) under management and is actively looking to lead new investments in therapeutics, diagnostics, medical devices and healthcare services. The Gilde Healthcare II fund is supported by the European Communities Growth and Employment Initiative, MAP-ETF Start up Facility. For a list of Gilde’s portfolio companies please visit the website at www.gildehealthcare.com.