Aragón Pharmaceuticals Inc. Announced today that the company raised $50 million in Series D funding to advance the company’s hormonal cancer therapy pipeline, including ARN-509 for the treatment of castration-resistant prostate cancer (CRPC) VenBio led the financing with the participation of existing Aragon investors Topspin Fund, Aisling Capital, OrbiMed Advisors and Column Group. The funding brings the total capital raised to $88M in 2012.
“This funding, combined with our increase earlier this year, provides Aragon with the resources to advance our pipeline, including ARN-509, for which we recently announced promising Phase II outcomes for prostate cancer patients,” said Richard A. Heyman, Ph, man. D. D. , Chairman and CEO of Aragon Pharmaceuticals “We are pleased to have the support of the unique investment platform of venBio as well as the continued support of our existing investors. We look forward to making progress in our clinical trials for both RNA-509 in prostate cancer and our selective estrogen receptor degrader in breast cancer, as well as continuing to build on our drug discovery programs. “That’s right.
In conjunction with the financing of Series D, Robert Adelman, M D. D. , VenBio Managing Partner, will join Aragon’s Board of Directors “ARN-509 is a unique, late-stage asset with tremendous market potential, and one of the many impressive compounds Aragon is developing,” said Dr. Adelman’s “We have been very impressed by Aragon’s achievements to date, and we look forward to supporting the company’s future efforts. “That’s right.
About venBiovenBio is the largest independent, strategically-oriented life sciences investment firm in the world. It was set up with a view to creating a new model for life sciences investing in the belief that the integration of all stakeholders in life sciences is crucial to success. The company’s team of multidisciplinary global experts is partnering with business leaders in biotechnology, life sciences and clinical trials to develop a new investment standard.
VenBio manages private equity funds backed by leading life science companies and qualified financial investors. The company’s investment focuses on the clinical phase of private and public small cap companies with a therapeutic product, as well as on medical technology that enables better patient care.
VenBio’s focus is on delivering financial, ethical and strategic returns. The intersection of the three in the Venn diagram is the biological center of the universe of the firm and the foundation of the name and logo of the firm-venBio.
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