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Thursday, Mar 28, 2024

New Capital To Finance Fat Reducer Tests

A Japanese venture capital firm led a round of $40 million in financing that lets Kythera Biopharmaceuticals Inc. complete trials for its fat deposit reduction drug. The financing makes $30 million available immediately to Calabasas-based Kythera, with the remaining $10 million available in 2009. Lead investor JAFCO Co. Ltd. is the parent company of JAFCO Life Science Investment. Other participating investors included Versant Ventures, ARCH Venture Partners, Prospect Venture Partners, Altitude Life Science Ventures and Wilson Sonsini Goodrich and Rosati. Partnering with JAFCO provides better options for Kythera products in Japan and the broader Asia market, said President and CEO Keith Leonard. “This financing is a clear recognition of the progress made on and potential of our lead product candidate, [localized fat reducer] ATX-101, which is currently being evaluated in Phase II clinical trials in Europe, Canada, Australia and the U.S.,” Leonard said.

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