Esperion Therapeutics, Inc., a Plymouth, MI-based clinical stage biopharmaceutical company, completed a $33m financing.
The round was led by new investor Longitude Capital, with participation from existing investors Aisling Capital, Alta Partners, Domain Associates, Arboretum Ventures and Asset Management. In conjunction with this financing, Longitude’s Patrick Enright will join Esperion’s board of directors.
The company intends to use the funds to continue to advance its novel lead product candidate, ETC-1002.
Led by and Roger Newton, Ph.D., executive chairman and chief scientific officer, and Tim Mayleben, president and chief executive officer, Esperion Therapeutics focuses on developing and commercializing oral low-density lipoprotein cholesterol (LDL-C) lowering therapies for the treatment of hypercholesterolemia and other cardiometabolic disorders.
ETC-1002 is a first-in-class, orally available, once-daily LDL-C lowering small molecule therapy designed to target known lipid and carbohydrate metabolic pathways to lower levels of LDL-C and to avoid the side effects associated with existing LDL-C lowering medications.