US-based biotechnology company Tarsa Therapeutics has concluded a second tranche of its series B round, raising an additional $7m from returning investors including Denmark based pharmaceutical firm Novo.
Novo was joined by venture capital firms Foresite Capital, MVM Life Science Partners, and Quaker Partners. Tarsa raised $28m in the first tranche of the round in March 2012.
Founded in 2009, Tarsa is currently developing Ostora, a calcitonin-based medical tablet for the treatment and prevention of postmenopausal osteoporosis.
The company recently successfully concluded a phase 3 clinical trial for Ostara, and Tarsa will use the funds raised to file Ostora’s New Drug Application (NDA) with the Food and Drugs Administration in the US.
Tarsa previously raised $24.5m of financing in 2011, according to Fierce Biotech, three months after it secured $15.5m in debt. It also secured $24m in 2009 from Novo, MVM and Quaker.
David Brand. chief executive officer of Tarsa, said: “We appreciate the continued support of our investors as we look forward to filing our NDA currently targeted for early 2015.”