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Zafgen Secures $21 Million in Series D Financing
Date:12/4/2012

CAMBRIDGE, Mass., Dec. 4, 2012 /PRNewswire/ -- Zafgen, Inc., a leading biopharmaceutical company dedicated to addressing the unmet needs of severely obese patients, today announced it has secured $21 million in a Series D equity financing. New investor, Alta Partners, a prominent venture capital firm in life sciences, leads the financing, joining existing investors Atlas Venture and Third Rock Ventures. Proceeds from the financing will be used to support the continued development of beloranib, the obesity therapeutic that is currently in phase 2a clinical development.

"We are thrilled to have attracted more world-class investors to our syndicate as we move forward with phase 2a clinical testing for beloranib," said Thomas Hughes, Ph.D., president and chief executive officer, Zafgen, Inc. "Alta Partners has a strong portfolio and consistent track record of recognizing and investing in high-growth firms.  We appreciate their confidence in the promise of beloranib to help address the unmet needs of severely obese patients."  

Beloranib utilizes a unique mechanism of action targeting Methionine Aminopeptidase 2 (MetAP2). The therapeutic is in development to assess potential to safely and rapidly reduce body weight by restoring balance between the production and utilization of fat.

On November 6, 2012, Zafgen announced the initiation of Phase 2a clinical testing of beloranib following the completion of three consecutive Phase 1b studies demonstrating rapid weight loss, reductions in body fat, improvements in cardiovascular risk factors and encouraging tolerability. The phase 2a clinical trial will evaluate weight loss, safety and pharmacokinetics of beloranib administered twice a week. Results from this study are anticipated to be available in June, 2013. 

"We are impressed with Zafgen's leadership and efficient business approach and encouraged by early results with beloranib," said Ed Hurwitz, director a
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SOURCE Zafgen, Inc.
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