VCs Invest $23M In Roche Holding Spinout Afferent Pharmaceuticals

Roche Licenses First-in-Class Treatments for Chronic Pain to Afferent Pharmaceuticals

 
Pappas, Third Rock, Domain and New Leaf Launch New Company Centered on Novel Pain
Management Technology; Afferent to Initiate Clinical Trials in First Half of 2010

Basel, Switzerland and Palo Alto, Calif., 16 December 2009 – Roche (SIX: RO, ROG; OTCQX: RHHBY) announced today it has licensed its P2X3i receptor program aimed at developing first-in-class treatments for chronic pain to Afferent Pharmaceuticals. Afferent was co-founded by Anthony Ford, Ph.D., Pappas Ventures, and Third Rock Ventures, and is focused on developing compounds that treat chronic pain by targeting a novel biological pathway. In conjunction with this announcement, Afferent successfully closed a $23 million Series A financing, which was led by Third Rock Ventures and Pappas Ventures, and included Domain Associates and New Leaf Venture Partners. Proceeds from the financing will be used to accelerate the development of P2X3 receptor targeted pain therapies.