By David Wainer
July 24 (Bloomberg) -- Chiasma Ltd., which develops oral
drugs previously only available through injection, raised $38.5
million to fund a late-stage trial of the Octreolin growth-
disorder treatment and a study of a second medicine.
The equity financing round was led by Abingworth, which
invests in the health-care sector, and current investor MPM
Capital, the Jerusalem-based company said in a press release.
The late-stage trial should be completed in the second quarter
of 2013, Chiasma said.
Acromegaly, known in children as gigantism, is a rare
condition in which overproduction of growth hormone causes the
face to become coarse and the hands and feet to swell. About
20,000 patients are eligible for Octreolin treatment in the U.S.
and Europe, with an additional 10,000 patients in the rest of
the world, according to Chiasma.
The U.S. Food and Drug Administration granted orphan-drug
designation for Octreolin, meaning the product would get seven
years of market exclusivity if approved, Chiasma said. Chiasma
is also developing an oral treatment for a chronic kidney
disease complication, it said.
For Related News and Information:
Bloomberg drug database: BDRG
Market map of the TA-25 index: TA-25 IMAP
--Editors: Kristen Hallam, Thomas Mulier
To contact the reporter on this story:
David Wainer in Tel Aviv at +972-3-542-7110 or
To contact the editor responsible for this story:
Phil Serafino at +33-1-5530-6277 or
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