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Radius Raises Additional $15 Million, Increasing Second Private Equity Financing Round to $82.5 Million
Date:11/20/2008

CAMBRIDGE, Mass., Nov. 20 /PRNewswire/ -- Radius Health ("Radius") announced today that it has raised an additional $15 million to its second institutional financing round, increasing total Series C investment to $82.5 million and the total amount raised since the company's inception to $106.5 million. All existing institutional investors participated in the financing, led by MPM Bio IV NVS Strategic Fund and including MPM Capital, The Wellcome Trust, HealthCare Ventures, Oxford Bioscience Partners, BB Biotech Ventures, and Scottish Widows Investment Partnership.

Radius will use the additional funding, along with existing cash resources, to support the continued advancement of the company's clinical and preclinical development programs. Radius anticipates results from its Phase II clinical trial of BA058, a bone anabolic therapy for the treatment of osteoporosis, in the first quarter of 2009. Earlier this year, the company initiated a Phase I clinical trial of RAD1901, a novel SERM (selective estrogen receptor modulator) for the treatment of hot flashes, on which Radius expects to commence a Phase IIa study in the first quarter of 2009. In addition, the company recently announced selection of the first preclinical candidate from its SARM (selective androgen receptor modulator) discovery program for treatment of muscle loss, with an investigational new drug (IND) filing expected in the second quarter of 2009.

"We are extremely pleased with the strong continuing confidence of our investors in Radius' progress," said C. Richard Lyttle, PhD, President and CEO of Radius. "We are finishing 2008 in a strong position, with a broad and maturing portfolio of drug candidates for osteoporosis and women's health, an option agreement with a major pharmaceutical company to license BA058 for late-stage development, and significant cash resources at our disposal."

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Related medicine technology :

1. Radius Selects First Preclinical Candidate From SARM Discovery Program for the Treatment of Muscle Loss and Other Musculoskeletal Conditions
2. Radius Completes Enrollment of Phase II Clinical Trial of BA058 for Osteoporosis
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4. ESBATech Raises Additional CHF 23M (USD 22M), Extending Series B Venture Financing
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10. Globus Medical Raises $110 Million in Series E Financing Round
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