Sideris Pharmaceuticals is a privately held biopharmaceutical company focused on developing therapeutics for transfusion-related iron overload, with operations in Boston, MA and Gainesville, FL. Its lead asset, SP-420, is an orally active small molecule that selectively binds iron and removes it from the body. In animal studies SP-420 showed excellent tissue penetration, highly efficient iron binding, and a promising safety profile, and the program is covered by an issued patent exclusively licensed to Sideris. The company completed a $32 million Series A equity financing that will allow advancement of the SP-420 program into a large Phase 2 clinical study. The financing was led by MPM Capital (including MPM’s SunStates Fund), with participation from Hatteras Venture Partners and Osage University Partners. Concurrently, Sideris signed an agreement granting Novartis an exclusive right to acquire Sideris and SP-420, with potential upfront, acquisition and milestone payments that could reach up to $300 million. Sideris also added representatives from MPM and Hatteras to its board following the closing.

Total raised

$32M

Funding rounds

1

Latest round

Series A

Latest activity

Oct 2013