Radius Health, a Cambridge, Massachusetts-based developer of a new generation of drug therapies for osteoporosis and women’s health, closed the second of its three-tranche $91m financing round announced in May 2011 (read here) .
This $27.65m second tranche included $21.4m in equity financing from current investors (BB Biotech AG, Brookside Capital, Saints Capital, Nordic Bioscience, and Ipsen Pharma SAS, MPM Capital, BB Biotech Ventures, MPM Bio IV NVS Strategic Fund,The Wellcome Trust, HealthCare Ventures, and Scottish Widows Investment Partnership) and $6.25m in debt financing from GE Capital, Healthcare Financial Services and Oxford Finance LLC.
This brings the proceeds received to date from the $91m financing to $57.3m.
The company intends to use the capital to continue advancing the ongoing Phase 3 clinical study of BA058 Injection, its novel anabolic (bone-building) drug for the treatment of osteoporosis.
Radius Health is led by President & CEO C. Richard Lyttle, PhD.