Healthcare Industry News: Medicis Pharmaceutical
News Release - September 5, 2007
Hyperion Therapeutics Secures $40 Million In Series B RoundSOUTH SAN FRANCISCO, Calif., Sept. 5 (HSMN NewsFeed) -- Hyperion Therapeutics, a biopharmaceutical company focused on the development and commercialization of gastrointestinal and hepatology therapies for the treatment of Urea Cycle Disorders (UCD) and Hepatic Encephalopathy (HE), today announced a $40 million Series B financing. Leading the round was Sofinnova Ventures, with equal commitments by Highland Capital Partners and NEA, all of Menlo Park, CA. WRF Capital of Seattle, WA also participated.
"The unmet medical need for patients with Urea Cycle Disorders and Hepatic Encephalopathy remain significant," said James Healy, MD, Ph.D, and General Partner of Sofinnova Ventures. "Hyperion is committed to improving the treatment options for these patients."
In response to the announcement of Hyperion's collaboration with Medicis Pharmaceutical Corporation, Cynthia Le Mons, Executive Director of the National Urea Cycle Disorders Foundation commented, "We are excited about the attention and focus the Hyperion team will bring to increasing UCD diagnosis and improving patients' treatment options. We look forward to working in partnership with Hyperion on shared goals to improve the lives of UCD patients and their families."
Hyperion recently announced their strategic collaboration with Medicis (NYSE: MRX ) through which the Company will immediately begin promotion of the only currently FDA approved drugs for the treatment of UCD (AMMONUL and BUPHENYL) and continue developing AMMONUL for acute hepatic encephalopathy (HE) and a compound referred to as GT4P for chronic UCD and HE.
In addition to the Series B financing, Hyperion named the following board members: James Healy of Sofinnova Ventures, Mike Raab of NEA, Bijan Salehizadeh of Highland Capital Partners, and Don Santel, former CEO of CoTherix, Inc.
About Hyperion Therapeutics
Hyperion Therapeutics is a specialty therapeutics company focused on becoming a global leader in gastrointestinal (GI) and hepatology therapeutic programs and products that address underserved patient populations or unmet medical needs to improve patient care. The company has assembled a seasoned executive team with extensive industry experience developing and commercializing specialty pharmaceutical products. Hyperion is headquartered in South San Francisco, CA. For additional information, visit: http://www.hyperiontx.com.
AMMONUL and BUPHENYL are registered trademarks of Ucyclyd Pharma, Inc.
Full prescribing information for AMMONULŪ and BUPHENYLŪ are available at http://www.Ammonul.com and http://www.Buphenyl.com, respectively, or by contacting Hyperion Therapeutics, Inc.
Source: Hyperion Therapeutics
Issuer of this News Release is solely responsible for its
Please address inquiries directly to the issuing company.