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News and Information Article
CAMBRIDGE, Mass., April 20 // -- Sirtris Pharmaceuticals, the
leading sirtuin therapeutics company, today announced that it secured $37
million in new financing consisting of a $22 million Series C equity
placement and $15 million in venture debt.
The Series C round was led by new investor Bessemer Venture Partners,
and also included Genzyme Ventures, QVT Fund LP, and Alexandria Real Estate
Equities, Inc. Also participating in the financing were all previous
institutional investors including Polaris Venture Partners, TVM Capital,
Cardinal Partners, Skyline Ventures, Three Arch Partners, The Wellcome
Trust, Novartis Bioventures Fund, Cargill Ventures, Cycad Group, Hunt
Ventures, and Red Abbey. Sirtris also secured $15 million in venture debt
financing from Hercules Technology Growth Capital (NasdaqNM: HTGC) of which
Sirtris will initially draw down $10 million.
"Attracting additional capital at an increased valuation is an
endorsement of the robust product potential of our sirtuin science," said
Christoph Westphal, M.D., Ph.D., CEO of Sirtris. "Adding the expertise of a
world class biopharmaceutical organization like Genzyme and the insight of
leading investors like Bessemer and QVT further strengthens our ability to
develop a new class of drugs to treat diseases of aging."
Proceeds from this financing will be used to accelerate Sirtris
therapeutic programs, particularly those focused on metabolic and
neurological diseases. "Sirtuins are emerging as attractive targets in
diseases ranging from metabolic to neurological disorders, and Sirtris is
poised to lead the development of therapeutics in this area," said Brad
Gray, Director, Corporate Development at Genzyme and leader of Genzyme
Ventures. In conjunction with the Series C transaction, Stephen Kraus,
representing Bessemer Venture Partners, will join Sirtris Board of
Directors. "Sirtris leadership in the science of sirtuins provides a
fundamental biological platform for the development of therapeutic products
across multiple disease areas," said Kraus.
About Sirtris Pharmaceuticals
Sirtris Pharmaceuticals is a biopharmaceutical company developing and
commercializing novel therapeutics that modulate sirtuins, a recently
discovered family of enzymes that promotes the bodys natural defense
against disease. Also known as class III histone deacetylases (HDACs),
sirtuins are attractive drug targets for diseases of aging, including
metabolic and neurological diseases. Sirtris has built the dominant sirtuin
intellectual property estate and know-how with a comprehensive suite of
reagents, proprietary assays, transgenic animal models, and biomarkers.
Sirtris Pharmaceuticals was founded by Rich Aldrich, Richard Pops, Paul
Schimmel, David Sinclair and Christoph Westphal, and has raised a total of
$82 million since inception. Its investors include Polaris Venture
Partners, TVM Capital, Cardinal Partners, Skyline Ventures, Three Arch
Partners, The Wellcome Trust, Bessemer Venture Partners, Novartis
Bioventures Fund, Cargill Ventures, Genzyme Corporation, QVT Fund LP, Cycad
Group, Hunt Ventures, Red Abbey, and Alexandria Real Estate Equities, Inc.
The companys headquarters are in Cambridge, Massachusetts. For additional
information, please visit http://www.sirtrispharma.com.
Media Contact:
Kathryn Morris
845-635-9828
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