PTC Therapeutics - Top 20 Biotech VC Deals of 2009

Company: PTC Therapeutics
Based: South Plainfield, NJ
Amount: $50 million

Investors: The Column Group, Delphi Ventures, Credit Suisse First Boston, HBM BioVentures, Novo A/S, Celgene, and other existing and new investors

Scoop: PTC's ataluren (PTC124) is currently undergoing trials for the treatment of cystic fibrosis and Duchenne muscular dystrophy (DMD). And there's hope that the drug could treat another 1,800 genetic diseases linked to the same cellular process that triggers DMD. The round of funding will be used to help PTC commercialize ataluren. The company says that with this round of financing plus existing revenues from collaborations with Genzyme, Merck, Celgene and Roche give it a cash runway that extends well into 2011. Top-line data for ataluren in DMD is expected in 2010. If successful, the company could file an NDA for the drug mid-2010 and have an approval in hand by 2011.