Navigation Links
PTC Therapeutics Closes $60 Million Private Financing
Date:3/7/2013

SOUTH PLAINFIELD, N.J., March 7, 2013 /PRNewswire/ -- PTC Therapeutics, Inc. (PTC) today announced the successful completion of a $60 million financing led by Brookside Capital Partners Fund, L.P. Joining Brookside as new investors in this financing are Adage Capital Management, Jennison Associates L.L.C. (on behalf of fund clients), Longwood Fund and additional top-tier institutional investors. In conjunction with the investment, Adam Koppel , M.D., Ph.D., Managing Director of Brookside Capital Partners Fund, L.P., and Richard Aldrich , Co-founder and Partner of Longwood Fund, will join PTC's Board of Directors. Credit Suisse First Boston, HBM Healthcare Investments Ltd., Vulcan Capital, Celgene, Delphi Ventures, Novo A/S, The Column Group and other existing investors also participated in the transaction. 

(Logo:  http://photos.prnewswire.com/prnh/20010919/PTCLOGO)

"This substantial financing enables PTC to continue to pursue the regulatory approval and delivery of ataluren to patients," stated Michael Schmertzler , Chairman of the Board. "PTC's Board of Directors welcomes the breadth of support and expertise of our new investors."

Proceeds from this financing will support continued clinical development of ataluren in Duchenne muscular dystrophy and cystic fibrosis. PTC is initiating a Phase 3 confirmatory trial of ataluren in patients with nonsense mutation Duchenne muscular dystrophy (nmDMD) with the goal of commencing enrollment in the first half of 2013. PTC also is developing ataluren for nonsense mutation cystic fibrosis (nmCF). The company has worldwide development and commercial rights to ataluren in all indications and territories.

"We are honored to have the support of our new and existing investors," said Stuart W. Peltz , Ph.D., Chief Executive Officer of PTC Therapeutics, Inc. "This financing is critical to expanding our efforts to develop and commercialize novel therapies that may benefit patients with nonsense mutation Duchenne muscular dystrophy and cystic fibrosis."

Credit Suisse acted as sole structuring advisor and lead placement agent to PTC Therapeutics for the transaction. Wedbush PacGrow Life Sciences acted as co-placement agent.

About PTC Therapeutics
PTC is a biopharmaceutical company focused on the discovery, development and commercialization of orally administered, proprietary 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 rare genetic disorders, oncology and infectious diseases. PTC has developed proprietary technologies that it applies in its drug discovery activities and that have served as the basis for collaborations with leading biopharmaceutical companies. For more information, visit the company's website at www.ptcbio.com.


'/>"/>
SOURCE PTC Therapeutics, Inc.
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. Cell Therapeutics, Inc. (CTI) to Report First Quarter Financial Results on April 20
2. Faruqi & Faruqi, LLP Encourages Investors Who Suffered Substantial Losses Investing in Chelsea Therapeutics International, Ltd. to Contact the Firm
3. Argos Therapeutics Secures $25 million Series D Financing to Commence Phase 3 ADAPT Study in Patients with Metastatic Renal Cell Carcinoma (mRCC) in Mid-2012
4. Novelos Therapeutics Announces Successful Completion of First Cohort In Lung Cancer Trial With I-124-CLR1404 (LIGHT) Cancer-Targeted PET Imaging Agent at UW Carbone Cancer Center
5. Zacks Industry Outlook Highlights: Eli Lilly, Forest Labs, ViroPharma, Novartis and United Therapeutics
6. Oxford BioTherapeutics Appoints Senior Industry Leader to Head its New Clinical Development Operations in Basel, Switzerland
7. Nektar Therapeutics Reports Financial Results for the First Quarter of 2012
8. Cara Therapeutics Licenses Novel Kappa Opioid Agonist, CR845, to Chong Kun Dang Pharmaceutical Corporation For South Korean Market
9. Frost & Sullivan: High Uptake of New Drug Therapies and Aging Population Expansion Keep the U.S. Retinal Therapeutics Market Buoyant
10. Zenobia Therapeutics, Inc. And BioBlocks, Inc. Announce Sale Of A Joint Fragment Library Ideal For Screening By All Popular Methods
11. New Forecast Shows Global Protein Therapeutics Market to Reach $143.4 Billion by 2015
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:8/7/2017)... Zimmer Biomet Holdings, Inc. (NYSE and SIX: ZBH), a global ... Directors has approved the payment of a quarterly cash dividend ... The cash dividend of $0.24 per ... to stockholders of record as of the close of business ... to approval of the Board of Directors and may be ...
(Date:8/4/2017)... , Aug. 3, 2017  Agragen, LLC, a ... active in the biopharmaceutical, nutraceutical, and aquacultural feed ... of its lead drug candidates, AGR131.  This drug ... cytokine from the blood of patients suffering from ... inflammatory bowel disease. ...
(Date:8/2/2017)... , Aug. 2, 2017 CaryRx, a next-generation full-service ... delivery service for patients in the Washington D.C. ... retail pharmacy by providing delivery of medications through the convenience ... future delivery or delivered within one hour to any location ... excited to bring this invaluable service to Washington ...
Breaking Medicine Technology:
(Date:8/20/2017)... MD (PRWEB) , ... August 20, 2017 , ... State ... one of 40 national causes up for a $25,000 grant. If the initiative wins, ... girl bullying – will expand into the Tri-County area of St. Mary’s, Calvert and ...
(Date:8/19/2017)... (PRWEB) , ... August 18, 2017 , ... ... partnership aimed at creating a transparent, verifiable database to help the cannabis industry ... ledger technology, Paragon hopes to deliver a faster technology with lower fees. Paragon ...
(Date:8/19/2017)... ... August 19, 2017 , ... Praeclarus Press has ... These illustrations show the diversity of the breastfeeding mothers, using bright colors ... of sizes. These illustrations are also available on tote bags, notepads, smartphone cases, ...
(Date:8/19/2017)... ... , ... “Congratulations! It's A Boy! God’s Gift: A Story of Love”: a ... “Congratulations! It's A Boy! God’s Gift: A Story of Love” is the creation of ... , Published by Christian Faith Publishing, Dale Anthony and Rachael Anthony’s new book is ...
(Date:8/18/2017)... ... August 18, 2017 , ... ... highly specialized asset-light logistics provider of complex transport solutions for mission-critical and ... purchase Unitrans International Corporation, a division of Roadrunner Transportation Systems, Inc. (NYSE: ...
Breaking Medicine News(10 mins):