Aragon Pharmaceuticals Secures $22M in Series B Financing

Aragon Pharmaceuticals Inc., a San Diego, CA-based small-molecule drug discovery company identifying innovative medicines for the treatment of hormonally driven cancers, has secured $22m in Series B financing.
Investors include Aisling Capital, OrbiMed Advisors and The Column Group. The financing brings the total amount raised to $30m since the company’s foundation in May 2009.
In conjunction with the round, Brett I.W. Zbar, M.D., a partner with Aisling Capital, has joined Aragon’s board of directors.
The financing will support the company’s plans to initiate Phase 1 clinical trials in the middle of this year for its lead compound, ARN-509 for the treatment of castration-resistant prostate cancer, and allow it to continue into Phase 2 trials.

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