Ascendis Pharma, a biotechnology company that applies its innovative TransCon technology to address significant unmet medical needs, raised €48 million for a Serie D financing.
This financing is expected to be used to fund late-stage clinical trials of TransCon Growth Hormone for the treatment of growth hormone deficiency (GHD). Growth hormone deficiency, is a serious orphan disease affecting both children and adults which results in a poor quality of life. The current standard of care for the treatment requires patients to receive daily injections over many years. The administrative burden of daily injections often results in poor patient compliance and can lead to suboptimal treatment outcomes.
That is why, Ascendis Pharma is developing a once-weekly TransCon Growth Hormone. It is a prodrug that releases unmodified growth hormone, thus maintaining the same mode of action as currently prescribed daily growth hormone therapies. Clinical studies have demonstrated a comparable efficacy, safety, tolerability and immunogenic profile to that of daily growth hormone.
The financing was co-led by U.S.-based Sofinnova Ventures,