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Omthera Pharmaceuticals Raises $33.9 Million in Series B Funding Led by New Enterprise Associates
Date:3/14/2011

BEDMINSTER, N.J., March 14, 2011 /PRNewswire/ -- Omthera Pharmaceuticals, Inc., a privately-held emerging specialty pharmaceuticals company, announced today that it has raised $33.9 million in a Series B funding round, led by new investor, New Enterprise Associates ("NEA"), one of the world's leading venture capital firms.  Existing investor, Sofinnova Partners, also participated in the financing. The capital raised will be used to fund the Phase 3 clinical development of Omthera's novel Omega-3 fatty acid compound, Epanova™, and for general corporate purposes.  With this latest round, Omthera has raised approximately $40.4 million in venture capital since commencement of operations in 2009.

In a separate press release issued today, Omthera announced that the Company has initiated its pivotal Phase III EVOLVE (EpanoVa fOr Lowering Very high triglyceridEs) trial for Epanova, for the treatment of patients with very high triglycerides (greater than or equal to 500 mg/dL).  In January 2011, the Company announced data from its ECLIPSE (Epanova Compared to Lovaza In a Pharmacokinetic Single-dose Evaluation) trial, designed to evaluate the bioavailability of Epanova in comparison to Lovaza®, the leading prescription Omega-3.  Data from the trial showed that the bioavailability of Epanova was dramatically superior to Lovaza.

"Omthera continues to generate very positive data indicating that Epanova has the potential to become the best-in-class therapy in the nearly $2 billion worldwide Rx Omega-3 market and an important treatment for the millions of patients suffering from high triglycerides," stated Jerry Wisler, President, Chief Executive Officer and co-founder of Omthera. "As such, we are delighted to gain the support of a venture capital firm of the stature of NEA to lead this substantial new funding."  

David M. Mott, f
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SOURCE Omthera Pharmaceuticals, Inc.
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