Navigation Links
Auspex Raises $35 Million And Appoints Industry Veteran Gerald Proehl To Its Board of Directors
Date:1/8/2014

LA JOLLA, Calif., Jan. 8, 2014 /PRNewswire/ -- Auspex Pharmaceuticals, Inc., a Phase 3 clinical stage biopharmaceutical company focused on developing and commercializing novel medicines for the treatment of orphan diseases, today announced the completion of two separate financings totaling $35 million and appointment of a new Board member:

  • $20 million Series E equity financing led by Deerfield Management Company and supported by existing investors, Thomas, McNerney and Partners, CMEA Capital, Panorama Capital, BioMed Ventures and Costa Verde Capital; and
  • $15 million, four-year venture loan from Oxford Finance LLC.

"These financings strengthen the balance sheet as we advance SD-809, our lead program, in Phase 3 clinical development for the treatment of chorea associated with Huntington's disease," said Pratik Shah, Ph.D., President and Chief Executive Officer of Auspex. "We believe Auspex is in a strong financial and strategic position to continue developing and seeking to commercialize novel medicines for the treatment of orphan diseases."

"We have been impressed by the quality of the management team, the potential of the SD-809 program for the treatment of hyperkinetic movement disorders and the promise of the deuterium chemistry platform," said Jonathan Leff, Partner at Deerfield Management and Chairman of the Deerfield Institute. "We are pleased to be supporting Auspex as it advances development of SD-809 and other compounds in its pipeline of deuterium-substituted analogues of clinically validated drugs," added William Slattery, Partner at Deerfield Management.

The company also announced the addition of Gerald Proehl, former President and CEO of Santarus, Inc., as a member of the company's Board of Directors. Mr. Proehl will serve on the Board in place of David Collier, who is stepping down from the Board.

"We welcome Gerry to the Board of Directors. We believe his management, operational and marketing experience will be valuable as we continue to grow the company and advance our pipeline," said Dr. Shah.  "On behalf of Auspex and its Board of Directors, I would like to express my sincere thanks to David Collier for his important contributions to Auspex over the many years he has served on our Board. We appreciate David's and CMEA's continued support of Auspex."

Gerald Proehl was the President and Chief Executive Officer of Santarus, Inc., where he led the sale of Santarus to Salix Pharmaceuticals for $2.6 billion in December 2013. Prior to Santarus, Mr. Proehl was with Hoechst Marion Roussel, Inc. for 14 years, where he served in various capacities, including Vice President of Global Marketing.  While at Hoechst, he was responsible for marketing products in multiple therapeutic areas, including the central nervous system. Mr. Proehl holds a B.S. in education from the State University of New York at Cortland, an M.A. in exercise physiology from Wake Forest University, and an M.B.A. from Rockhurst College.

About Auspex Pharmaceuticals
Auspex Pharmaceuticals is a biopharmaceutical company focused on the development and commercialization of novel medicines for the treatment of orphan diseases. Auspex's pipeline includes product candidates to address unmet medical needs in hyperkinetic movement disorders, such as chorea associated with Huntington's disease, tardive dyskinesia and Tourette syndrome, as well as other orphan indications. Auspex's lead product candidate, SD-809, is in a Phase 3 registration clinical trial for the treatment of chorea (abnormal involuntary movements) associated with Huntington's disease. Auspex has employed its deuterium chemistry approach to optimize other deuterium-containing compounds in its portfolio that are at various stages of development. For further information, please visit the company's website www.auspexpharma.com.


'/>"/>
SOURCE Auspex Pharmaceuticals
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. Auspex Initiates Phase 3 Trial of SD-809 in Huntingtons Disease
2. Auspex Pharmaceuticals Receives U.S. Patent on Novel JAK Inhibitor SD-900
3. Bellicum Pharmaceuticals Raises $34.4 Million in a Series B Financing
4. Crescendo Biologics Raises £17.5M ($28M) in Series A Financing
5. Child Mind Institute Raises $6.6 Million at Annual Child Advocacy Award Dinner for the Advancement of Childrens Mental Health and Brain Research
6. Senhwa Biosciences Raises $17M Series B
7. Sitari Pharmaceuticals, First Company Launched Through Avalon Ventures-GlaxoSmithKline Collaboration, Raises up to $10 Million Series A Financing and R&D Support
8. Western Refining Raises $337,000 During Month-long 22nd Annual St. Jude Halloween Promotion
9. Bayers Third Annual Virtual Walk for Hemophilia Raises Funds, Brings Together the Hemophilia Community
10. AMRI Announces Third Quarter 2013 Results and Raises Full Year EPS Guidance
11. arGEN-X raises EUR 5 Million from PMV in Extension of EUR 32.5 Million Series B
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/27/2016)... 27, 2016 Hutchison China ... focused on the highly lucrative global oncology and ... of potential first-in-class or best-in-class tyrosine kinase inhibitor ... with strategic partners. HCM,s profitable Chinese healthcare business ... We expect progress of the mid-to-late-stage pipeline during ...
(Date:5/27/2016)... , May 27, 2016 ... drug manufacturers, health insurance companies all falling under its ... healthcare companies. While not often talked about, these healthcare ... The United States is by far the ... Advanced Medical Isotope Corp. (OTC: ADMD), Nutranomics Inc. (OTC: ...
(Date:5/26/2016)... -- TARE (Transarterial Radio-embolization) Using Yttrium-90 ... Overall Decreased Use of Hospital Resource ... healthcare company, has today announced the publication of ... ISPOR (International Society for Pharmacoeconomics and Outcomes Research), ... yttrium-90 glass microspheres is associated with cost savings ...
Breaking Medicine Technology:
(Date:5/28/2016)... , ... May 28, 2016 , ... SuperCloset is proud ... too well the day to day issues, struggles and obstacles veterans’ need to overcome ... Veterans Grow Project provides active or retired military veteran(s) with a donated SuperCloset product ...
(Date:5/28/2016)... ... May 28, 2016 , ... May 26, 2016- In search ... Fighting Challenge with theme event of “K Warriors” on June 4, 2016 at Ashbury ... , The event is sponsored and hosted by Shaolin Institute and sanctioned by KSF ...
(Date:5/28/2016)... ... 28, 2016 , ... In a part of the city where’s it’s easy to spot the ... restaurants is hoping to attract diners with a taste for real food. , ... the doors to Cornerstone Grill, an urban casual restaurant focusing on dishes made by hand ...
(Date:5/27/2016)... ... May 27, 2016 , ... Southland Log Homes , designer ... timber frame barn kits, which can be found on its website at SouthlandLogHomes.com. , ... barn plans, and they highlight the craftsmanship of timber post and beam construction. ...
(Date:5/27/2016)... , ... May 27, 2016 , ... W.S. Badger ... announced today that it has been recognized as one of the best small businesses ... was named as one of nine small businesses providing progressive benefits to new parents ...
Breaking Medicine News(10 mins):