This week Aragon Pharmaceuticals announced that it secured $42 million in a Series C financing, which will be used to advance its pipeline of therapeutics targeting hormone-driven cancers. These types of cancers are usually treated with anti-hormonal therapies; however patients often become resistant to treatment, making hormone receptors a promising target for therapeutics.
Additionally, the company also reported positive Phase 1 data for its lead therapeutic for the treatment of castration-resistant prostate cancer (CRPC), ARN-509. The data announced are part of an ongoing open-label, dose-escalating Phase 1/2 clinical trial and demonstrated that ARN-509 was safe and well tolerated in patients with progressive metastatic CRPC. The therapeutic also demonstrated promising preliminary antitumor activity, with declines in prostate-specific antigen (PSA) observed in patients treated at all doses of ARN-509.
The financing was led by a new investor, the Topspin Fund, which is an investment group of James Simons, Leo A. Guthart and Steve Winick, and also included the participation of existing investors Aisling Capital, OrbiMed Advisors and The Column Group. With this financing, the amount of capital raised by the company since its founding in 2009 now totals $72 million.
Russo Partners worked to secure coverage of the announcement in the media, resulting in articles from newswires, including Dow Jones VentureWire, as well as trade publications, including Scrip, BioWorld Today, The Pink Sheet and Xconomy. For more information, please visit Xconomy’s coverage of the announcement.







