24 July 2012 - Chiasma, a privately held biopharma company, has completed a USD38.5m equity financing, the company announced yesterday.

The equity financing was co-led by new investor, Abingworth, and current investor, MPM Capital, and also included investments from existing shareholders, 7 Med Health Ventures, ARCH Venture Partners, F3 Ventures and Fredric Price, Chiasma's chairman & CEO.

The new investment is likely to offer funding for the completion of the Phase 3 pivotal programme in acromegaly patients for Octreolin. It is also aimed at financing a clinical study for the company's second product, a small molecule to be investigated as a possible treatment for a complication of chronic kidney disease (CKD).