Kythera in $40M round of financing

Los Angeles, USA-based Kythera Biopharmaceuticals, a privately-held biotechnology company, has announced a $40.0 million C round financing led by new investor JAFCO, Japan's largest venture capital firm. Other new investors include BBT Capital Management/Apothecary Capital and PFM. Also participating were existing investors Versant Ventures, ARCH Venture Partners, Prospect Venture Partners, Altitude Life Science Ventures and Wilson Sonsini Goodrich and Rosati. This tranched financing has an immediate draw of $30.0 million with an additional $10.0 million available in the first-half of 2009.

Concurrent with the financing, Hironori Hozoji, investment officer, JAFCO Life Science Investment, will be joining Kythera's board of directors.

Kythera will use the proceeds to complete Phase II trials for its lead product, ATX-101. The firm has US Investigational New Drug approvals open to study ATX-101 in both aesthetic and medical indications and has three Phase II studies ongoing to evaluate the product's safety and effectiveness for the reduction of unwanted submental fat and of subcutaneous lipomas. Initial studies have shown ATX-101 to be safe and well tolerated.