Radius Health, a US-based developer of drug therapies for osteoporosis and women’s health backed by Switzerland-based peer Novartis, has raised $43m after pulling its planned stock market flotation at the end of last year.
Novartis’s pharmaceutical business unit invested in Radius’ latest round through its joint programme with venture capital firm MPM Capital’s MPM Bio IV NVS Strategic Fund.
The other investors were MPM’s main venture fund and VC peers F2 Biosciences III, Biotech Growth, Brookside Capital and BB Biotech Ventures.
Morana Jovan-Embiricos, managing partner at F2 Biosciences, and Owen Hughes, chief business officer and head of corporate development at Intarcia Therapeutics and formerly a director at Brookside Capital, will join Radius’ board.
In December, Radius postponed its initial public offering (IPO), citing market conditions. The company had planned to sell 6.5 million shares at between $8.50 and $10.50 per share, and trade on the Nasdaq, as stated in a…
