Hyperion Therapeutics, a privately held specialty pharmaceutical company focused on the development of therapies that address critical unmet needs in the areas of gastroenterology and hepatology, today announced it has closed a $60 million Series C financing. New investors Bay City Capital and Panorama Capital co-led the financing. Series A and B investors Highland Capital Partners, NEA, and Sofinnova Ventures also participated.
The Series C financing follows the Company's recent announcement of Phase II results and orphan drug designation for HPN-100 in its lead indication, the chronic treatment of patients with urea cycle disorders (UCD). The capital will fund the Phase III clinical program for UCD as well as a Phase II study in low grade hepatic encephalopathy.
Concurrent with the Series C financing, H. Daniel Perez, M.D. of Bay City Capital, and Gaurav Aggarwal, M.D. of Panorama Capital have joined the Hyperion Therapeutics Board of Directors.
“Considerable unmet needs remain in the treatment of both urea cycle disorders and hepatic encephalopathy,” said Daniel Perez of Bay City Capital. “We believe the Hyperion management team, with their extensive drug development and regulatory expertise, is well positioned to lead a clinical development program focused on potential treatment options for these patients.”
yperion Therapeutics is a privately held specialty therapeutics company focused on the development of therapies that address critical unmet needs in the areas of gastroenterology and hepatology. Hyperion and Ucyclyd Pharma, Inc., a subsidiary of Medicis Pharmaceutical Corporation, entered into a collaboration agreement for HPN-100 in August 2007. Under the terms of the agreement, Hyperion is conducting ongoing research and development of HPN-100 for urea cycle disorders, hepatic encephalopathy, and other forms of hyperammonemia. Hyperion is headquartered in South San Francisco, CA.