May 07, 2012
Retrophin, LLC Completes Series A Financing
Proceeds will be used to advance pipeline of rare-disease drug candidates
NEW YORK--(BUSINESS WIRE)--Retrophin, LLC, a privately-held New York-based, biotechnology company focused on discovering and developing treatments for rare and life-threatening diseases, today announced completion of its Series A financing. The $4 million round was led by MSMB Capital.
The company intends to invest the proceeds from the Series A financing to advance its pipeline of novel rare-disease drug candidates, including a proof-of-concept study of RE-021 (a dual acting receptor antagonist of Angiotensin and Endothelin receptors) in Focal Segmental Glomerulosclerosis (FSGS) scheduled to begin enrolling patients during the second quarter of this year.
"We've made tremendous success in a very short time against our mission of improving the lives of patients with rare and life-threatening diseases," said Martin Shkreli, Chief Executive Officer of Retrophin, LLC. "With our Series A complete, we're in position to advance our lead compound, RE-021, through proof of concept, as well to continue development of RE-001 for the treatment of Duchene Muscular Dystrophy."
About Retrophin, LLC
Retrophin, LLC is a privately-held New York-based, biotechnology company focused on discovering and developing treatments for rare and life-threatening diseases. Retrophin is currently developing treatments for focal segmental glomerulosclerosis, Duchenne Muscular Dystrophy, spinal muscular atrophy, cystic fibrosis and myotubular myopathy. Retrophin's Series A financing was led by MSMB Capital and several current and former senior executives at global pharmaceutical and healthcare companies.