Zafgen Obtains $33 Million In Series C Funds To Advance Anti-Obesity Drug In Phase II
This article was originally published in The Pink Sheet Daily
Biotech hopes to differentiate its candidate from recent obesity drug failures with better risk-to-benefit ratio, serving severely obese patients.
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The private obesity company will do a mezzanine venture financing that brings in at least one public-oriented investor before it heads, presumably, toward an IPO. That round is slated to close in a month or so. Around the same time, Zafgen will present final Phase II data for its beloranib.
Plus news on recent financings by Ember Therapeutics, Aviir, Covidien and Ariad Pharmaceuticals.
The sole investor in a $34 million Series A financing, Third Rock hopes Ember can be a pioneer in development of obesity drugs that augment brown fat levels.