By E. Janene Geiss
Philadelphia, Nov. 10 - PTC Therapeutics, Inc. said Thursday that it raised $26.6 million in equity financing.
Credit Suisse First Boston Private Equity and HBM BioVentures were the lead investors. Other investors included new and existing investors Vulcan Ventures, Novo A/S, Delphi Ventures, Bay City Capital, Novartis BioVentures, Amgen Ventures and HealthCap.
The financing will be used toward the clinical development of PTC124, advancement of preclinical oncology and antiviral programs and drug-discovery programs in multiple therapeutic areas, officials said in a company news release.
"We are impressed by the portfolio of compounds that PTC is developing and the range of critical diseases that they may address. We look forward to the results of PTC's first clinical trials in Duchenne muscular dystrophy and cystic fibrosis," Michael Schmertzler of Credit Suisse First Boston Private Equity said in the release.
South Plainfield, N.J.-based PTC is a biopharmaceutical company focused on the discovery, development and commercialization of small-molecule drugs targeting post-transcriptional control mechanisms.
| Issuer: | PTC Therapeutics, Inc.
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| Issue: | Equity financing
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| Amount: | $26.6 million
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| Investors: | Credit Suisse First Boston Private Equity, HBM BioVentures (leads), Vulcan Ventures, Novo A/S, Delphi Ventures, Bay City Capital, Novartis BioVentures, Amgen Ventures, HealthCap
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| Announcement date: | Nov. 10
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