Prosensa Raises €23 Million in New Equity Financing Led by New Enterprise Associates

Leiden, The Netherlands, 25 January 2012 – Prosensa, the Dutch bio­phar­ma­ceu­ti­cal com­pa­ny focus­ing on RNA-mod­u­lat­ing ther­a­peu­tics for rare dis­eases with high unmet needs, announced today that it has raised €23 mil­lion in new equi­ty financ­ing. The financ­ing was led by new investor New Enterprise Associates (NEA) and was sup­port­ed by exist­ing Prosensa investors, Abingworth, Life Sciences Partners, Gimv, Idinvest Partners and MedSciences Capital. David Mott, General Partner of NEA, will join Prosensa’s Supervisory Board.
The fundrais­ing will enable Prosensa to advance its port­fo­lio of RNA-mod­u­lat­ing ther­a­peu­tics for the treat­ment of rare dis­eases, includ­ing Duchenne mus­cu­lar dys­tro­phy (DMD), Myotonic Dystrophy (DM1) and Huntington’s dis­ease (HD).
Hans Schikan, CEO of Prosensa, com­ment­ed: “Over the past few years, we have made sub­stan­tial progress in our research and devel­op­ment pipeline. Our lead drug can­di­date for Duchenne mus­cu­lar dys­tro­phy is in Phase III clin­i­cal tri­als in part­ner­ship with GlaxoSmithKline. We have advanced the devel­op­ment of five addi­tion­al com­pounds in DMD and have announced pre­clin­i­cal test­ing for a com­pound for DM1. This financ­ing will help us to fur­ther strength­en our posi­tion in rare dis­eases and will allow us to deliv­er on our promise of accel­er­at­ed devel­op­ment of treat­ments for patients in need.”
“We are excit­ed by the oppor­tu­ni­ty to invest in Prosensa, one of the most promis­ing emerg­ing European bio­phar­ma­ceu­ti­cal com­pa­nies,” said David Mott, General Partner of New Enterprise Associates. “Prosensa has world-class sci­ence, man­age­ment and co-investors, and most impor­tant­ly is devel­op­ing ther­a­pies for rare genet­ic dis­eases which may offer tremen­dous ben­e­fits to patients. Their progress to date, par­tic­u­lar­ly with the Phase III Duchenne mus­cu­lar dys­tro­phy pro­gram, is very encour­ag­ing.” Mr. Mott added, “While NEA is one of the largest ven­ture firms in the world, with more than $11 bil­lion in cap­i­tal under man­age­ment, Prosensa is our first bio­phar­ma invest­ment in Europe and sig­nals our open­ness to selec­tive­ly con­sid­er invest­ing in tru­ly excep­tion­al inno­va­tion in Europe as well as in our tra­di­tion­al geo­gra­phies in the U.S., China and India.”
Daan Ellens, Chairman of Prosensa’s Supervisory Board com­ment­ed: “Prosensa wel­comes NEA to its investor base and David Mott to its Supervisory Board. David’s impres­sive track record, and his pri­or expe­ri­ence at MedImmune and AstraZeneca, will be a valu­able exten­sion in the Supervisory Board’s exper­tise, there­by help­ing Prosensa reach its next mile­stones.”
Prosensa has the most advanced port­fo­lio of drug can­di­dates for DMD in the indus­try, with two com­pounds in clin­i­cal tri­als in part­ner­ship with GSK (PRO051/GSK2402968 and PRO044) and four addi­tion­al com­pounds in pre­clin­i­cal devel­op­ment, as well as pre­clin­i­cal com­pounds for DM1 and HD. Prosensa’s DMD com­pounds are based on its pro­pri­etary exon-skip­ping tech­nol­o­gy that uses anti­sense oligonu­cleotides to restore expres­sion of a func­tion­al dys­trophin pro­tein and to pro­vide poten­tial treat­ment for patients affect­ed by this pro­gres­sive­ly debil­i­tat­ing neu­ro­mus­cu­lar dis­ease.

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