San Diego Life Sciences Roundup: Receptos, Auspex, Avelas, and More
Amid the flurry of announcements leading up to next week’s JP Morgan Healthcare Conference in San Francisco, you might have missed some significant funding deals coming out of San Diego’s life sciences sector. Here are the highlights, along with my wrap-up of other news.
—San Diego’s Auspex Pharmaceuticals said it has raised $35 million in a combination of equity financing and venture debt to advance its deuterium-based drug pipeline, which includes a drug candidate for a movement disorder associated with Huntington’s disease. The company said it raised $20 million in a Series E round of venture funding led by Deerfield Management, which was joined by existing investors, Thomas McNerney & Partners; CMEA Capital; Panorama Capital; BioMed Ventures; and Costa Verde Capital. In a separate financing, Auspex secured a $15million, four-year venture loan from Oxford Finance. Auspex also plans to raise as much as $69 million through an IPO, according to a regulatory filing the company submitted last month.
—San Diego-based Receptos, which raised $73 million in an IPO eight months ago, revealed plans to sell another 3.3 million shares through a secondary public offering that is expected to raise about $102 million. The offering is expected to close next week, according to a statement from the company. Receptos plans to use the proceeds to advance development of RPC1063, an experimental drug in clinical trials for treating relapsing multiple sclerosis and ulcerative colitis.
—San Diego’s Avelas Biosciences closed … Next Page »