Versartis raises $21 million, out-licenses lead programme to new venture Diartis
This article was originally published in Scrip
Executive Summary
Versartis of the US has raised a $21 million series B financing. The proceeds will primarily be used to conduct clinical trials of its lead product, VRS-317, for growth hormone deficiency (GHD) in both adult and paediatric patients. Its previous lead candidate, VRS-859 - a once-monthly GLP-1 analogue - has been out-licensed to new company Diartis Pharmaceuticals.