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Financings Roundup

Versartis, Discovery Labs Raise Funds for Protein-based Drugs

By Catherine Shaffer

Thursday, February 17, 2011
Two biotech companies are headed to the bank to raise funds for advancement of peptide-based biological therapies. Versartis Inc., of Mountain View, Calif., completed a Series B financing round worth $21 million to advance its recombinant human growth hormone product into human trials, and Discovery Laboratories Inc., of Warrington, Pa., priced an underwritten public offering of 10 million units for gross proceeds of $23.5 million to funnel into its program of developing surfactant and aerosol therapies for lung diseases

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