PTC Therapeutics

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PTC

Based: South Plainfield, NJ
Raised: $23 million
Investors: Bay City Capital, Delphi Ventures, HBM Partners, Vulcan Capital

The scoop: PTC went two years without a round. By this point, PTC chief Stuart Peltz had hoped to be a public company. But that goal has proved elusive. A few days ago the biotech announced that it had raised $30 million, and the NVCA notes that its filings indicate that it has set a goal of $40 million. The $23 million was what it garnered for its bank account in the first half. The money is being used to finance late-stage development of ataluren, PTC's lead program for Duchenne/Becker muscular dystrophy as well as cystic fibrosis, which has had a long and often difficult passage in the clinic. PTC was named a Fierce 15 company in 2007.