Ultragenyx Pharmaceutical, a US-based developer of drugs for rare diseases started in April last year, has raised $45m in its series A round co-led by Fidelity Biosciences, the venture capital subsidiary on behalf of mutual fund manager Fidelity.
The other co-lead was private equity firm TPG Biotech and the rest of the syndicate made up of VC firms HealthCap and Pappas Ventures and angel investors.
Ben Auspitz of Fidelity Biosciences; and Mårten Steen of HealthCap will join the company’s board.