Zafgen Bringing Obesity Therapeutic to Market with $45M
December 05, 2013
Biopharma company Zafgen has secured $45 million in Series E funding, bringing the company’s total backing to nearly $115 million. New investors RA Capital Management, Brookside Capital, Venrock and Alta Partners, among others, participated in the round. Zafgen raised $22 million in Series D funding about a year ago, which valued the company at $156 million at the time.
Proceeds from the financing will be used to support the continued development of beloranib, the company’s obesity therapeutic. Founded in 2005 as a virtual company, Zafgen brings together experts in obesity and metabolic disease to address the underserved and growing population of patients who are severely obese.