Kythera Biopharmaceuticals obtained $40 million in a series C tranched financing round. The company has immediate access to $30 million, and the rest will be available in the first half of 2009.
Kythera will use the money to finish Phase II trials for its lead product, ATX-101. The compound is being studied in aesthetic and medical indications for the reduction of localized fat deposits. This includes treatment of superficial lipomas, fat deposits in the submental region of the face/neck, and localized fat deposits in other parts of the body.
The funding was led by new investor Jafco and included BBT Capital Management/Apothecary Capital, PFM, Versant Ventures, Arch Venture Partners, Prospect Venture Partners, Altitude Life Science Ventures, and Wilson Sonsini Goodrich & Rosati.