Zafgen, founded in 2005 and based in Cambridge, MA, develops beloranib, a twice-weekly subcutaneous injection for multiple indications including severe obesity in Prader–Willi syndrome, craniopharyngioma-associated obesity, and severe obesity in the general population. The company holds exclusive worldwide rights to beloranib (exclusive of South Korea), licensed from Chong Kun Dang Pharmaceutical Corp. Zafgen closed a $20 million term loan to support its operations. The loan was provided by Oxford Finance and MidCap Financial. The company intends to use the proceeds for working capital and growth. No operating metrics were disclosed in the article. Zafgen develops beloranib, an obesity therapeutic targeting severely obese patients. The company plans to use the newly raised funds to continue development of beloranib. Zafgen recently reported Phase 2 results in 147 obese subjects showing significant weight loss and improvements in multiple cardiometabolic risk factors. The company secured $45M in a Series E equity financing to support that development. Backers in the round included RA Capital Management, Brookside Capital, Venrock, Alta Partners, an undisclosed blue-chip investor and a private investor. Zafgen was founded in 2005 and is led by Thomas Hughes, Ph.D. Zafgen is a Cambridge, MA–based biopharmaceutical company focused on developing therapeutics for severe obesity and obesity-related disorders. The company was founded in 2005 and is led by Thomas Hughes, Ph.D., president and CEO. Its lead program is beloranib, a drug that targets the enzyme MetAP2 to control the production and utilization of fatty acids. Beloranib is in phase 2a clinical development, and Zafgen expected to release results from that study in June 2013. The company licensed beloranib from CKD Pharma. Zafgen closed a $21M Series D equity financing to fund continued development of beloranib. Zafgen is a pharmaceutical company pioneering obesity therapeutics that target imbalances in fat metabolism through MetAP2 inhibition. Its lead candidate, ZGN-433 (beloranib hemioxalate), is being developed as a twice-weekly subcutaneous injection for severe obesity. Phase 1b results reported rapid weight loss averaging about 1 kg per week and significant improvements in cardiovascular risk markers in severely obese subjects. The company expects to enter Phase 2 trials in obese and obese diabetic patients within six to 12 months and is also developing second-generation oral compounds for broader indications. Zafgen holds exclusive worldwide rights to ZGN-433 (exclusive of Korea); the molecule was initially developed by CKD Pharmaceuticals. Founded in 2005 and based in Cambridge, Mass., Zafgen aims to position MetAP2 inhibitors as a pharmacological alternative to bariatric surgery for severe obesity.

Total raised

$119M

Funding rounds

4

Latest round

Debt Financing

Latest activity

Apr 2014