Intercept Pharmaceuticals closes $30M Series C financing

Friday, August 10, 2012 03:15 PM

Intercept Pharmaceuticals, a New York-based clinical stage biopharmaceutical company focused on chronic liver diseases, has completed a $30 million Series C preferred stock financing led by OrbiMed Advisors, a global healthcare investment firm, with existing majority investor Genextra of Italy also participating.

"This financing allows us to continue advancing our lead compound OCA in POISE, our phase III PBC [primary biliary cirrhosis] trial, while pursuing other therapeutic indications of interest," said Mark Pruzanski, MD, president and CEO of Intercept.

Intercept aims to enroll 180 patients who first enter a one year double-blind placebo-controlled pivotal trial phase, followed by an open label long-term safety extension phase for another five years. The primary endpoint of the pivotal phase is the achievement of an alkaline phosphatase (ALP) level of less than 1.67 times upper limit normal  (with at least a 15% reduction in ALP), together with a normal bilirubin level. Patients who attain these ALP and bilirubin thresholds have been shown in long-term studies to be at significantly lower risk of progressing to liver transplant and death.

In conjunction with the financing, OrbiMed's Jonathan Silverstein and Klaus Veitinger have joined Intercept's board of directors.

Share:          
CWWeekly

March 2

Huntingdon Life Sciences-Harlan prepares for rebranding and U.S. expansion to compete with early phase CROs Covance, CRL

Patients' increased sharing of clinical trial experiences through social media can help sponsors improve outcomes, enrollment

Already a subscriber?
Log in to your digital subscription.

Subscribe to CWWeekly.

The CenterWatch Monthly

March

Novo Nordisk, Takeda, Servier, Celgene among top sponsors
New gains seen from patient- and site-centric initiatives

Patient reported outcomes take center stage
FDA combining PROs, clinical outcomes in its approval decisions

Already a subscriber?
Log in to your digital subscription.

Purchase the March issue.

Subscribe to
The CenterWatch Monthly.

The CenterWatch Monthly

February

Study grants market breaks $13 billion
Volume of clinical activity rising while growth in grant spending slows

Revisiting eClinical Technology Solutions Adoption
While use of established solutions grows, sponsors hesitate on newer tools

Already a subscriber?
Log in to your digital subscription.

Purchase the February issue.

Subscribe to
The CenterWatch Monthly.

JobWatch centerwatch.com/jobwatch

Featured Jobs