Radius raises additional $15 Million
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Cambridge: Radius Health, a developer of a new generation of drug therapies for osteoporosis and women's health, has raised an additional $15 million to its second institutional financing round, increasing total series C investment to $82.5 million. The total amount raised since the company's inception is now $106.5 million. All existing institutional investors participated in the financing, led by MPM Bio IV NVS Strategic Fund and including MPM Capital, The Wellcome Trust, HealthCare Ventures, Oxford Bioscience Partners, BB Biotech Ventures, and Scottish Widows Investment Partnership. Radius will use the additional funding, along with existing cash resources, to support the continued advancement of the company's clinical and preclinical development programs. Radius anticipates results from its Phase II clinical trial of BA058, a bone anabolic therapy for the treatment of osteoporosis, in the first quarter of 2009. Earlier this year, the company initiated a Phase I clinical trial of RAD1901, a novel SERM (selective estrogen receptor modulator) for the treatment of hot flashes, on which Radius expects to commence a Phase IIa study in the first quarter of 2009. In addition, the company recently announced selection of the first preclinical candidate from its SARM (selective androgen receptor modulator) discovery program for treatment of muscle loss, with an investigational new drug (IND) filing expected in the second quarter of 2009. C. Richard Lyttle, PhD, President and CEO of Radius, said, "We are finishing 2008, with a broad and maturing portfolio of drug candidates for osteoporosis and women's health, an option agreement with a major pharmaceutical company to license BA058 for late-stage development, and significant cash resources at our disposal."

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