PTC Therapeutics Completes $60M Financing
Summary
PTC Therapeutics, Inc., a South Plainfield, NJ-based biopharmaceutical company focused on the discovery, development and commercialization of orally administered, proprietary small-molecule drugs that target post-transcriptional control processes, completed a $60m financing.The company intends to use the capital for continued clinical development of ataluren in Duchenne muscular dystrophy and cystic fibrosis.PTC is initiating a Phase 3 confirmatory trial of ataluren in patients with nonsense mutation Duchenne muscular dystrophy (nmDMD) with the goal of commencing enrollment in the first half of 2013.PTC also is developing ataluren for nonsense mutation cystic fibrosis (nmCF).Led by Stuart W. Peltz , Ph.D., CEO, the company has worldwide development and commercial rights to ataluren in all indications and territories.