PTC Therapeutics Raises 50M in Equity Financing
Published On December 22, 2009 |
PTC Therapeutics, Inc., a South Plainfield, NJ-based biopharmaceutical company, completed a $50m equity financing.
The round was co-led by new investor The Column Group and existing investor Delphi Ventures, with participation from Credit Suisse First Boston, HBM BioVentures, Novo A/S, Celgene, and other existing and new investors.
In conjunction with the investment, general partner at Delphi Ventures, Deepa Pakianathan, Ph.D. will join the company’s Board of Directors.
Commenting on the financing, he said: “This round of funding increases financial flexibility for PTC as it prepares to commercialize its internally discovered and developed lead product. We believe the commercial launch of ataluren will represent a new paradigm in the treatment of genetic disorders”.
Ataluren is an investigational new drug designed to enable the formation of a functioning protein in patients with genetic disorders due a nonsense mutation.
PTC focuses on the discovery, development and commercialization of orally administered small-molecule drugs that target post-transcriptional control processes, addressesing multiple therapeutic areas, including genetic disorders, oncology, and infectious diseases.