SOUTH SAN FRANCISCO, Calif., Sept. 5 /PRNewswire/ -- Hyperion Therapeutics, a biopharmaceutical company focused on the development and commercialization of gastrointestinal and hepatology therapies for the treatment of Urea Cycle Disorders (UCD) and Hepatic Encephalopathy (HE), today announced a $40 million Series B financing. Leading the round was Sofinnova Ventures, with equal commitments by Highland Capital Partners and NEA, all of Menlo Park, CA. WRF Capital of Seattle, WA also participated.
"We are pleased with the investors' confidence in Hyperion and our team," said Chris Rivera, President and CEO of Hyperion. "The funding will allow us to complete the licensing deal with Medicis Pharmaceutical Corporation (see press release dated August 28, 2007), build out our management team, advance our clinical trials in UCD and HE, and begin the U.S. promotion of the only two FDA-approved compounds for the treatment of UCD, AMMONUL(R) (sodium phenylacetate and sodium benzoate) Injection 10%/10% and BUPHENYL(R) (sodium phenylbutyrate). We look forward to making an immediate impact on patients through efforts to increase the diagnosis, awareness and treatment of UCD with these life-saving drugs."
"The unmet medical need for patients with Urea Cycle Disorders and Hepatic Encephalopathy remain significant," said James Healy, MD, Ph.D, and General Partner of Sofinnova Ventures. "Hyperion is committed to improving the treatment options for these patients."
In response to the announcement of Hyperion's collaboration with
Medicis Pharmaceutical Corporation, Cynthia Le Mons, Executive Director of
the National Urea Cycle Disorders Foundation commented, "We are excited
about the attention and focus the Hyperion team will bring to increasing
UCD diagnosis and improving patients' treatment options. We look
|SOURCE Hyperion Therapeutics, Inc.|
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