Versartis, Inc., a Redwood City, CA-based biotechnology company developing novel therapeutics for patients with endocrine disorders, completes a $25m Series C financing.
The round was led by new investor Aisling Capital with participation from existing investors Index Ventures, New Leaf Venture Partners and Advent Venture Partners‘ Advent Life Sciences fund.
In conjunction with the investment, Aisling Capital Partner Anthony Sun, MD, has joined Versartis’ Board of Directors.
The company intends to use the capital for clinical trials of its lead product, VRS-317, for growth hormone deficiency (GHD) in pediatric patients, which is being conducted in approximately 30 sites in the United States.
VRS-317 is a proprietary once monthly form of recombinant human growth hormone (rhGH).
Led by Chief Executive Officer Jeffrey L. Cleland, PhD, Versartis is developing new therapeutic proteins utilizing the novel half-life extension technology, XTEN, a novel hydrophilic sequence of natural amino acids and is expressed as a fusion protein with a therapeutically active peptide or protein.