Chiasma Closes $38.5M Series D Equity Financing
Summary
Chiasma, Inc., a Jerusalem, Israel-based biopharma company, has closed a $38.5m Series D equity financing.The round was co-led by new investor Abingworth and existing investor MPM Capital, with participation from existing shareholders 7 Med Health Ventures, ARCH Venture Partners, F3 Ventures and Fredric Price, Chiasma’s Chairman & CEO.Also led by COO Roni Mamluk, PhD, Chiasma is developing oral drugs.The company intends to use the capital to complete the Phase 3 pivotal program in acromegaly patients for Octreolin (pronounced Ock-tree-o-lin), its proprietary investigational oral form of the peptide octreotide, which is planned to be completed in the second quarter of 2013, as well as to advance a clinical study for its second product, a small molecule to be investigated as a possible treatment for a complication of chronic kidney disease (CKD).In conjunction with the funding, Vincent Miles, PhD, Venture Partner at Abingworth, has joined Chiasma’s Board of Directors.