Versartis, Inc., a Redwood City, CA-based biotechnology company developing novel therapeutics for patients with endocrine disorders, completed a $20m Series D financing.
The round was led by new investor Sofinnova Ventures, with participation from existing investors Advent Venture Partners‘ Advent Life Sciences fund, Aisling Capital, Amunix Operating, Index Ventures and New Leaf Venture Partners. In conjunction with the funding, General Partner Srinivas Akkaraju, MD, PhD, will join Sofinnova’s Board of Directors.
Led by Chief Executive Officer Jeffrey L. Cleland, PhD., Versartis develops therapeutics for the treatment of endocrine disorders. Its lead product candidate is VRS-317, a novel long-acting form of human growth hormone, which is currently being investigated for safety and efficacy in pediatric GHD patients for up to once-monthly dosing.
It now intends to use the funds to prepare for an international Phase 3 pediatric trial of VRS-317.
Versartis leverages its proprietary Amunix half-life extension technology (XTEN) to develop improved therapeutic outcomes such as enhanced efficacy/compliance, fewer side effects, prolonged half-life (up to monthly dosing), as well as low-cost production and enhanced stability.