Following a cancelled deal with pharmaceutical company Roche, the Ofer-backed pharmaceutical company has raised the first tranche of a planned $56.3m series E round.
Chiasma, an Israel-based biotechnology company backed by conglomerate Ofer Holdings, has secured the $33.8m first tranche of a planned $56.3m series E round from undisclosed investors, according to MedCity News.
Chiasma had previously entered a $595m commercialisation deal with pharmaceutical company Roche, until Roche decided to cancel the agreement in July 2014 following the results of a Phase 3 clinical trial for Chiasma’s oral treatment for hormonal disorder acromegaly.
Ofer Hi-Tech, a subsidiary of Ofer…
