Chiasma raises $33.8M after Roche deal unwinds

Chiasma Inc. (Jerusalem, Israel) raised $33.8 million out of a proposed $56.3 million financing round, according to a regulatory filing. The company said in October it would independently develop and commercialize oral octreotide acetate to treat acromegaly.

In July, Roche (SIX:ROG; OTCQX:RHHBY) returned worldwide rights to the candidate to Chiasma after reviewing Phase III data and feedback from U.S. and European regulatory agencies. Chiasma received $65 million up front under a 2013 deal with Roche covering the compound, and was eligible for $530 million in milestones plus royalties (see BioCentury Extra, Feb. 18, 2013). ...