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:6/24/2016)... June 24, 2016  Collagen Matrix, Inc., ("Collagen ... and manufacturing of collagen and mineral based medical ... that Bill Messer has joined the ... further leverage the growing portfolio of oral surgery, ... Bill joins the Collagen Matrix executive team ...
(Date:6/24/2016)... , June 24, 2016 ... the "Structural Electronics 2015-2025: Applications, Technologies, Forecasts" ... In-Mold Electronics, Smart Skin, Structural ... Structural electronics involves electronic and/or ... protective structures, replacing dumb structures such as vehicle ...
(Date:6/24/2016)... Research and Markets has announced the ... Tests" report to their offering. ... The World Market for Companion Diagnostics covers the ... analysis in the report includes the following: ... Kits) by Region (N. America, EU, ROW), 2015-2020 , ...
Breaking Medicine Technology:
(Date:6/25/2016)... Montreal, Canada (PRWEB) , ... June 25, 2016 , ... ... the pursuit of success. In terms of the latter, setting the bar too high ... low, risk more than just slow progress toward their goal. , Research from ...
(Date:6/24/2016)... ... June 24, 2016 , ... Those who have experienced traumatic events may ... to unhealthy avenues, such as drug or alcohol abuse, as a coping mechanism. To ... for healthy coping following a traumatic event. , Trauma sufferers tend to feel a ...
(Date:6/24/2016)... ... ... was in a crisis. Her son James, eight, was out of control. Prone to extreme ... “When something upset him, he couldn’t control his emotions,” remembers Marcy. “If there was ... other children and say he was going to kill them. If we were driving ...
(Date:6/24/2016)... ... ... Global law firm Greenberg Traurig, P.A. announced that 20 Florida attorneys are ... for this recognition are considered among the top 2 percent of lawyers practicing within ... of this year’s Legal Elite Hall of Fame: Miami Shareholders Mark D. Bloom, ...
(Date:6/24/2016)... , ... June 24, 2016 , ... Comfort Keepers® of ... Cancer Society and the Road To Recovery® program to drive cancer patients to and ... other adults to ensure the highest quality of life and ongoing independence. Getting ...
Breaking Medicine News(10 mins):