Aragon Pharmaceuticals, a San Diego, CA-based small-molecule drug discovery company, has raised $42m in a Series C financing.
The round was led by a new investor, the Topspin Fund, with participation from existing investors Aisling Capital, OrbiMed Advisors and The Column Group.
The company intends to use the funding to advance its pipeline of therapies targeting hormone-driven cancers, including ARN-509, its lead compound for the treatment of castration-resistant prostate cancer (CRPC).
Founded in 2009 by Drs. Charles Sawyers, Michael Jung and president and CEO Rich Heyman, Aragon has completed enrollment in the Phase II study with clinical data which will be anticipated later this year.
In conjunction with the financing, Leo A. Guthart, CEO of Topspin Partners, will join Aragon’s board, along with independent director Carol G. Gallagher, Pharm.D., the former president and CEO of Calistoga Pharmaceuticals.