SomPharmaceuticals Closes Series A Financing

“The additional private placement represents confidence in our lead development program, G02113, for the treatment of acromegaly and neuroendocrine tumours,” stated Dr. Alan G. Harris, Chairman of the Board of SomPharmaceuticals. “By targeting two key somatostatin receptors, we believe that SomPharmaceuticals could develop an important new therapy for the sizeable populations of both acromegaly patients (50%) and neuroendocrine tumour patients who are currently not controlled by or become ‘resistant’ to currently approved therapies.”

The Series A funding will be used to complete the preclinical development of G02113 for acromegaly and to explore other potential preclinical candidates from the Company’s somatostatin analogue library. SomPharmaceuticals anticipates initiating a Phase I/IIa clinical study of G02113 in octreotide-resistant acromegaly patients in Q1 2015.

About G02113
The Company’s lead candidate therapy, G02113, is a dual-receptor specific somatostatin analogue which has enhanced affinity for the two somatostatin subtype receptors (SSTR) 2 and 5 that control hormones released from pituitary tumours causing acromegaly and also neuroendocrine tumours. G02113 is designed to overcome the limited efficacy of established somatostatin analogues, while avoiding the diabetogenic effects of newer somatostatin analogues.

About SomPharmaceuticals S.A.
Sompharmaceuticals S.A. is a biopharmaceutical company based at the Biopôle in Epalinges-Lausanne, Switzerland focused on developing novel anti-tumour somatostatin analogue peptide medicines and diagnostics for patients with rare diseases, who have unmet medical needs and whose treatments represent major market opportunities.