Tarsa Therapeutics, Inc., a Philadelphia, PA-based developer of a novel oral formulation of calcitonin for the treatment and prevention of postmenopausal osteoporosis, has closed a $28m Series B equity financing.
The round was led by new investor Foresite Capital, with participation from existing investors Novo A/S, MVM Life Science Partners and Quaker Partners.
Led by President and CEO David Brand, Tarsa is developing its oral calcitonin, OSTORA, as a treatment for osteoporosis under a licensing agreement with Unigene Laboratories that provides the company with exclusive development and worldwide commercialization rights, with the exception of China.
The company intends to use the proceeds from the financing to support the NDA filing, preparation of a European Marketing Authorization Application (MAA) and essential pre-commercialization activities for OSTORA™.
In conjunction with the funding, James Tananbaum, MD, Foresite’s founder and CEO, is joining Tarsa’s Board of Directors.
FinSMEs
16/03/2012