Auspex Pharmaceuticals Closes $25 Million Series D Financing
Company Planning to Start Phase 3 Clinical Trial for Treatment of Movement Disorder (Chorea) Associated with Huntington's Disease
November 08, 2012
LA JOLLA, Calif.--(BUSINESS WIRE)--Auspex Pharmaceuticals, Inc. today announced that it has raised $25 million in a Series D venture financing led by Panorama Capital. Also participating in the round were existing investors Thomas, McNerney & Partners, CMEA Capital, and Sloan Biotech Fund.
Auspex will use the funds to advance the development of its portfolio of drug molecules, particularly the Phase 3 development of its lead molecule, SD-809, expected to begin in the first half of 2013. Auspex is developing SD-809 for the treatment of hyperkinetic movement disorders including Huntington's disease, Tourette syndrome and tardive dyskinesia.
"This new financing provides resources for the pivotal trial of SD-809 in Huntington's Disease and for the acceleration of this compound's development in additional movement disorders," said Lawrence C. Fritz, Ph.D., President and Chief Executive Officer of Auspex. "We are very pleased that Panorama Capital, with its depth of experience and outstanding track record in the biopharmaceutical industry, has decided to join us in this important work."
In conjunction with the Series D financing, Gaurav Aggarwal, M.D., Partner with Panorama Capital, has joined the Auspex Board of Directors.
"We are pleased to back Auspex's experienced development team and to work with the Company to bring a promising and much needed therapy to market for Huntington's disease and other severe movement disorders," said Dr. Aggarwal.
About Auspex Pharmaceuticals
Auspex Pharmaceuticals is a privately held biopharmaceutical company located in La Jolla, California. The company is a pioneer in the use of deuterium in medicinal chemistry, and is focused on the treatment of hyperkinetic movement disorders including Huntington's disease, Tourette syndrome and tardive dyskinesia. Its lead compound, SD-809, is a novel inhibitor of the vesicular monoamine transporter 2 (VMAT-2). This drug offers the potential for significant advantages over existing therapies including improved safety, reduced drug-drug interactions, and less frequent dosing. Auspex is also exploiting its deuterium chemistry approach to optimize drugs in several additional therapeutic areas. Included in the Auspex portfolio are SD-900, a JAK kinase inhibitor for the treatment of autoimmune diseases, and SD-560, for the treatment of fibrotic diseases, as well as other compounds. For more information on Auspex, please visit the company's web site at http://www.auspexpharma.com.
Lawrence C. Fritz, Ph.D., 858-875-5896
President and CEO
Joan Kureczka, 415-821-2413 (Media)