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

ormerly the Chief Executive Officer of MedImmune, and now a General Partner at NEA, has joined Omthera's Board of Directors, bringing the Board to four members.  Mr. Wisler added, "We appreciate the continued strong support of Sofinnova Partners and welcome our newest Board member, David Mott, who brings a wealth of experience to our growing Company. The participation of Sofinnova Partners, together with David and NEA, reflects the market's confidence in the potential of Epanova. The funds raised in this latest round will enable Omthera to progress its clinical program with Epanova in patients with very high triglyceride levels and mixed dyslipidemia through to a New Drug Application filing, which is anticipated to occur in 2012."  

Mr. Mott noted, "I am very pleased to join the Omthera team and believe strongly in the Company's value proposition. Management's significant expertise and proven track record have allowed the Company to move rapidly since inception to bring the clinical development of Epanova to this important inflection point."  He continued, "There is a distinct market need for a more effective and convenient prescription-strength Omega-3 treatment option for patients suffering from very high triglycerides who need to maintain a low-fat diet.  Data generated to date indicates that Epanova has solid promise in this area, with the potential to deliver improved and more predictable bioavailability than currently available ethyl ester based formulations of Omega-3s.  Epanova has the potential to capture significant market share and eclipse currently available therapies to become the drug of choice."  

Mr. Mott, with more than 20 years of experience in the life sciences industry, including his 16 year tenure at MedImmune, focuses on biopharmaceutical investments at NEA. He is currently Chairman of 3-V Biosciences and Zyngenia, and is a director of Ardelyx, Epizyme, and TESARO.  

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