Sofinnova Ventures leads $20m Series D for biotech company Versartis


biotech_lrgSofinnova Ventures has led a $20m Series D round for Versartis to help the biotech company prepare for an international Phase 3 pediatric trial of VRS-317, a treatmet for patients with growth hormone deficiency (GHD).

The round, which was also backed by existing backers Advent Venture Partners, Aisling Capital, Amunix Operating, Index Ventures and New Leaf Venture Partners, brings Versartis’ fundraising total for 2013 to $45m.

The company is currently track to complete the Phase 2a portion of its ongoing trial and it set to initiate the Phase 3 trial next year.

Soffinova general partner Srinivas Akkaraju said, “The Versartis team has consistently generated groundbreaking data for their up to once-monthly treatment for patients with growth hormone deficiency, which clearly differentiates it from other attempts at a long-acting growth hormone.

“Sofinnova is pleased to have the opportunity to invest in Versartis at this time and to support the company’s progression as an exciting late-stage opportunity.”

Sofinnova is currently investing its life science-focused $440M fund, SVP VIII, which was closed in late 2011.

Earlier in 2013, Soffinova-backed company BioAmber was floated on the New York Stock Exchange.

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