Navigation Links
PTC Therapeutics Closes $50 Million Financing
Date:12/22/2009

SOUTH PLAINFIELD, N.J., Dec. 22 /PRNewswire/ -- PTC Therapeutics, Inc. (PTC) today announced the completion of a $50 million financing. The round was led by The Column Group - a new investor - and existing investor Delphi Ventures. The co-lead investors were joined by current investors Credit Suisse First Boston, HBM BioVentures, Novo A/S, Celgene, and other existing and new investors. In conjunction with the Delphi investment, general partner Deepa Pakianathan, Ph.D. will join PTC's Board of Directors.

(Logo: http://www.newscom.com/cgi-bin/prnh/20010919/PTCLOGO )

"We are delighted to welcome both The Column Group as an investor and Deepa as a Board member," stated Stuart W. Peltz, Ph.D., president and chief executive officer, PTC Therapeutics, Inc. "This is our first syndicated equity financing round in over four years, and serves as an important external validation of the tremendous progress we have made as a company since 2005, including advancing our lead product ataluren into multiple pivotal studies. We are grateful for the continued support from our existing investors."

"The Column Group focuses on companies with groundbreaking science, innovative products, and strong management talent. PTC epitomizes these attributes and we are pleased to lead this round," commented Rick Klausner, M.D., managing partner, The Column Group and former director of the National Cancer Institute. "With top line pivotal data for ataluren in DMD expected in 2010, we believe that PTC is on the cusp of significant value creation opportunities."

"As a long-term investor in PTC, we are delighted to co-lead this round and I am honored to join the PTC Board," added Deepa Pakianathan, Ph.D., Delphi Ventures. "This round of funding increases financial flexibility for PTC as it prepares to commercialize its internally discovered and developed lead product. We believe the commercial launch of ataluren will represent a new paradigm in the treatment of genetic disorders."

About PTC Therapeutics

PTC is a biopharmaceutical company focused on the discovery, development and commercialization of orally administered small-molecule drugs that target post-transcriptional control processes. Post-transcriptional control processes regulate the rate and timing of protein production and are of central importance to proper cellular function. PTC's internally discovered pipeline addresses multiple therapeutic areas, including genetic disorders, oncology, and infectious diseases. PTC has developed proprietary technologies that it applies in its drug discovery activities and are the basis for collaborations with leading biopharmaceutical companies such as Celgene, Genzyme, Gilead, Merck, Pfizer and Roche. For more information, visit the company's web site at www.ptcbio.com.

SOURCE PTC Therapeutics, Inc.


'/>"/>
SOURCE PTC Therapeutics, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related medicine technology :

1. Fate Therapeutics iPSC Technology Awarded Top Industry Honors for Small Molecule and Protein Reprogramming Breakthroughs
2. European Medicines Agency Grants Cell Therapeutics Orphan Drug Designation for Pixantrone in Diffuse Large B-Cell Lymphoma (DLBCL)
3. Cornerstone Therapeutics to Host Conference Call to Discuss Financial Guidance for 2010
4. Cell Therapeutics Announces FDAs Oncologic Drugs Advisory Committee to Review Pixantrone for the Treatment of Relapsed/Refractory Aggressive Non-Hodgkins Lymphoma, February 10, 2010
5. Silence Therapeutics to Merge with Intradigm Corp to Create Leading RNAi Therapeutics Company
6. Reportlinker Adds The Future of HIV Therapeutics - Market Forecasts to 2015, Competitive Benchmarking, Product Pipeline and Deals Analysis
7. Oxygen Biotherapeutics, Inc. Expands Board of Directors
8. Echo Therapeutics Announces Consulting Agreement with Hayden IR to Develop and Implement a Strategic Investor Relations Campaign
9. Drug Candidates in Pipeline Offer Potential for Parkinsons Disease Therapeutics Market, Says Frost & Sullivan
10. Hemodynamic Therapeutics Announces Successful Completion of Initial Phase 2 Clinical Study for Novel Combination Hypertension Therapy
11. Q-Med AB and Oceana Therapeutics, Inc. Take Major Step Towards SOLESTA(TM) US Regulatory Filing
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/23/2016)... -- , , , WHEN: , ... , , , LOCATION: , , , Online, with free ... EXPERT PANELISTS:  , , , Frost & Sullivan,s Global Vice President ... Industry Analyst, Divyaa Ravishankar and Unmesh Lal, Program Manager , ... is witnessing an exceptional era. Several new demand spaces, such as ...
(Date:6/23/2016)... NORTHBROOK, Ill. and BOGOTA, Colombia , June 23, 2016  Astellas today announced the ... joins Astellas Farma Brasil as the company,s second affiliate in Latin America . ... ... appointed General Manager of Astellas Farma Colombia ... ...
(Date:6/23/2016)... N.J. , June 23, 2016  Guerbet announced ... Premier Inc.,s Supplier Horizon Award . ... year, Guerbet was recognized for its support of Premier ... creation through clinical excellence, and commitment to lower costs. ... to receive this recognition of our outstanding customer service ...
Breaking Medicine Technology:
(Date:6/27/2016)... ... June 27, 2016 , ... "FCPX editors can now reveal their ... Cut Pro X," said Christina Austin - CEO of Pixel Film Studios. , ... Pro X users can now reveal the media of their split screens with ...
(Date:6/26/2016)... ... ... Quality metrics are proliferating in cancer care, and are derived from many ... the beholder, according to experts who offered insights and commentary in the current issue ... the full issue, click here . , For the American Society of Clinical ...
(Date:6/26/2016)... ... June 26, 2016 , ... ... have been diagnosed with endometriosis. These women need a treatment plan to not ... comprehensive approach that can help for preservation of fertility and ultimately achieving a ...
(Date:6/25/2016)... ... 25, 2016 , ... First Choice Emergency Room , the largest network ... the Medical Director of its new Mesquite-Samuell Farm facility. , “We are pleased ... location,” said Dr. James M. Muzzarelli, Executive Medical Director of First Choice Emergency Room. ...
(Date:6/24/2016)... ... 2016 , ... A recent article published June 14 on E ... goes on to state that individuals are now more comfortable seeking to undergo not ... as calf and cheek reduction. The Los Angeles area medical group, Beverly Hills Physicians ...
Breaking Medicine News(10 mins):