OrbiMed helps Sage Therapeutics raise $38m


medical monitorHealthcare-focused investment firm OrbiMed Advisors participated in a $38m Series C round for biopharmaceutical company Sage Therapeutics.

EcoR1 Capital Management, Foresite Capital Management and two undisclosed blue chip public investment funds also backed the round alongside existing investors Third Rock Ventures and ARCH Venture Partners.

Sage will use the funds to advance its clinical and preclinical programs in orphan and acute CNS disorders, including status epilepticus.

SAGE-547 is the lead program in a potential portfolio of seizure medicines and will be followed by intravenous and oral compounds designed to treat patients with earlier-stage seizure disorders, as well as other CNS disorders, said Sage.

OrbiMed general partner Carl Gordon said, “We are impressed by Sage’s focus on rare and orphan CNS diseases.

“We view the early human experience with SAGE-547 in status epilepticus, coupled with SAGE’s approach to designing clinical trials in indications with hard endpoints and the potential for rapid readouts, as key assets to SAGE today.”

Last October secured a $20m investment from Arch Venture Partners and Third Rock Ventures.

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