Versartis secured $25 million from new and existing investors in a Series C financing round. Proceeds will support clinical trials of VRS-317, an investigational once-monthly form of recombinant human growth hormone designed for children with growth hormone deficiency. "With this substantial funding, we are able to continue our comprehensive development program for VRS-317, including obtaining proof-of-concept efficacy results and preparing for the launch of a Phase III trial in 2014," Versartis CEO Jeffrey Cleland said.

Related Summaries