Aegerion Adds Pre-IPO Funds

Aegerion Pharmaceuticals Inc., a Bridgewater, N.J.-based drug company focused on cardiovascular and metabolic disease, has raised an undisclosed amount of third-round VC funding. No additional details were disclosed. The company is currently in registration for an IPO, and previously raised around $40 million from Alta Partners, Advent International, Index Ventures, MVM Life Science Partners, Red Abbey Venture Partners and Scheer & Co.

 

PRESS RELEASE 

Aegerion Pharmaceuticals, Inc., a specialty pharmaceutical company focused on the treatment of cardiovascular and metabolic disease, today announced the appointment of Peter L. Garrambone, Jr. to the Company’s board of directors. 

Peter Garrambone’s career includes more than 50 pharmaceutical transactions executed during his 24-year tenure at Pfizer, where he was a senior vice president of Corporate Strategic Planning.   At Pfizer, Mr. Garrambone led the company’s corporate business development and strategic planning efforts.  Most recently, Mr. Garrambone was senior vice president of Business Development for Reliant Pharmaceuticals, which was sold to GlaxoSmithKline for $1.65 billion in the fall of 2007.

“We are fortunate that Peter is joining the board of directors.  His extensive strategic and licensing transaction expertise will be invaluable as the company continues the pursuit of its strategic plan with the availability of its important clinical data in November of this year,” said David Scheer, Chairman and Co-Founder of Aegerion. 

In furtherance of its strategic plan, the Company announced that it had secured additional funding from investors to support ongoing and future clinical trials.  The Company will be presenting an abstract at both the American Association for the Study of Liver Disease and American Heart Association Meetings in the fourth quarter of 2008. 

Aegerion anticipates receiving the results of three Phase II trials on AEGR 733 before the end of 2008.  These trials, comprised of more than 460 patients, are designed to explore the efficacy, safety and tolerability of AEGR 733, Aegerion’s lead compound.  A Phase III study of AEGR 733 in the orphan population of homozygous familial hypercholesterolemic patients is currently underway.

In addition, Aegerion announced the transition of Jerry Wisler, Co-Founder, CEO and Director of Aegerion, who has left the Company to pursue personal interests.

About Aegerion Pharmaceuticals, Inc.

Aegerion Pharmaceuticals, Inc. is a privately held specialty pharmaceutical company focused on the development and commercialization of promising pharmaceuticals to treat cardiovascular and metabolic disease. The Company’s primary focus is on hyperlipidemia. Its most advanced products have demonstrated significant LDL lowering activity in human trials and are currently in Phase III and Phase II testing.