Ultragenyx Pharmaceutical Inc., a Novato, CA-based developer of rare disease therapeutics, closed a $45m Series A financing.
The round was co-lead by TPG Biotech and Fidelity Biosciences, with participation from HealthCap and Pappas Ventures.
The company intends to use the funding to advance multiple rare disease product programs in the pipeline, as well as develop new product candidates and partnerships.
The lead product, UX-001, a therapy for treatment of Hereditary Inclusion Body Myopathy (HIBM), is expected to enter the clinic in 2011.
In conjunction with the funding, Eran Nadav, Ph.D., of TPG Biotech, Ben Auspitz of Fidelity Biosciences and Mårten Steen, M.D., Ph.D. of HealthCap, will join Ultragenyx’ Board of Directors
The company was founded in 2010 by CEO and President Emil D. Kakkis, M.D., Ph.D.