Radius raises $15 million
This article was originally published in Scrip
Radius Health, a US drug discovery company, has raised $15 million in the second tranche of a Series C investment round led by MPM Bio IV NVS Strategic Fund. Radius has raised a total of $82.5 million in the round, bringing the amount raised since the company's establishment to $106.5 million. It will use the funding to advance its clinical and preclinical development programmes, including BA058, a bone anabolic therapy for the treatment of osteoporosis, for which Radius expects Phase II trial results early next year. Radius began a Phase I trial of RAD1901, a selective oestrogen receptor modulator for the treatment of hot flushes, earlier this year and it expects to begin a Phase IIa study in the first quarter of next year. The company recently selected the first clinical candidate from its selective androgen receptor modulator discovery programmes for the treatment of muscle loss and expects to file an IND in the second quarter of next year.