Tarsa Therapeutics is a Philadelphia-based developer of a formulation of calcitonin for the treatment of postmenopausal osteoporosis. It is developing Ostora, a novel oral formulation of calcitonin intended for women more than five years post‑menopause when alternative treatments are not suitable. Ostora could become the first approved oral calcitonin; the article notes calcitonin is a natural hormone with a long history of safety and efficacy as a treatment for osteoporosis. Tarsa secured a $10M senior credit facility to support its development and regulatory plans. Oxford Finance LLC and Square 1 Bank provided the financing. The company intends to use the proceeds to support a New Drug Application (NDA) filing with the U.S. FDA for Ostora, currently targeted for early 2015. The company is led by President and CEO David Brand and added Daniel Soland to its board. Tarsa Therapeutics is a Philadelphia, PA-based company developing an oral formulation of calcitonin for the treatment and prevention of postmenopausal osteoporosis. Its lead product, Ostora, is described as a novel oral calcitonin formulation. The company raised $7M in a second tranche of a Series B round. Tarsa intends to use the funds to prepare for filing a New Drug Application (NDA) with the U.S. Food and Drug Administration for Ostora. Leadership includes President and CEO David Brand, and the company recently appointed Nicholas A. LaBella, Jr., MS, RPh, as Vice President, Global Regulatory Affairs. Existing investors participating in the tranche include Foresite Capital, MVM Life Science Partners, Quaker Partners and Novo A/S. Tarsa Therapeutics is developing OSTORA, a novel oral formulation of calcitonin for the treatment and prevention of postmenopausal osteoporosis. The company holds an exclusive licensing agreement with Unigene Laboratories that provides exclusive development and worldwide commercialization rights for OSTORA, except in China. Led by President and CEO David Brand, Tarsa intends to use the financing proceeds to support an NDA filing, prepare a European Marketing Authorization Application (MAA), and carry out essential pre-commercialization activities. In conjunction with the financing, James Tananbaum, MD, founder and CEO of Foresite Capital, is joining Tarsa's Board of Directors. Tarsa is based in Philadelphia, PA. The company closed a $28M Series B equity financing to fund these activities. Tarsa Therapeutics recently closed a $24M Series A and licensed a Phase III oral calcitonin program from Unigene Laboratories. The licensed oral calcitonin has the potential to become the first FDA‑approved and commercially available oral formulation of calcitonin for osteoporosis. Tarsa will be solely responsible for the costs of the recently initiated global Phase III clinical program and has reimbursed Unigene for its Phase III expenditures to date. As part of the licensing agreement Unigene will own 25% of Tarsa on a fully diluted basis and is eligible for milestone payments and royalties on product sales. The company named David Brand as President, CEO and Director and has a board chaired by Dr. Bednarski that includes representatives from Unigene, Quaker BioVentures and Novo A/S. Tarsa will be based in Philadelphia, PA.

Total raised

$69M

Funding rounds

4

Latest round

Debt Financing

Latest activity

Aug 2014