VCs, crossovers back Ra in $58.5M series B

Ra Pharmaceuticals Inc. (Cambridge, Mass.) raised $58.5 million in a series B round led by RA Capital; Novo Ventures; and Lightstone Ventures. New investors Rock Springs Capital and Limulus Venture Partners also participated, as did prior investors New Enterprise Associates; Novartis Venture Fund; Morgenthaler Ventures; and Amgen Ventures.

Ra expects to begin Phase I studies of RA101495 in late 2015 to treat paroxysmal nocturnal hemoglobinuria (PNH). The complement 5 (C5) inhibitor is formulated as a self-administered injectable product, unlike approved PNH treatment Soliris eculizumab from Alexion Pharmaceuticals inc. (NASDAQ:ALXN), an intravenously infused humanized mAb targeting C5. ...