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news.Radius Health, a drug development company, has closed the $27.65m second tranche of its three-tranche $91m financing round.
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The second tranche included $21.4m in equity financing from Radius’ current investors and $6.25 million in debt financing from GE Capital, Healthcare Financial Services and Oxford Finance.
The proceeds from the second tranche will be used for the ongoing Phase 3 clinical study of BA058 Injection, a novel anabolic (bone-building) drug to treat osteoporosis.
BA058 is an analog of hPTHrP (human parathyroid hormone-related protein) in development by Radius in both subcutaneous injection and transdermal delivery forms as a treatment for osteoporosis.
The company hopes to present the data to make efficacy claims in order to gain support for marketing authorization of the injection in the US and Europe.