Chiasma Raises $70 M
Israeli-American biotech Chiasma has raised $70 million as it moves toward FDA approval with a treatment for the hormone disorder acromegaly. With the money, Chiasma plans to file an FDA application for oral octreotide, a treatment for the rare disorder. The company expects to submit the drug next quarter and, if everything goes according to plan, launch it soon thereafter, using its latest fundraise to assemble a marketing team. Previous investors MPM Capital, F2 Capital, 7 Med Health Ventures, Abingworth and Arch Venture Partners pitched in on the latest round alongside new backers Rock Springs Capital and Sofinnova Ventures. And now Chiasma has the funds it needs to push the top prospect forward and advance new candidates using its bioavailability-boosting Transient Permeability Enhancer (TPE) technology.