Concert Pharmaceuticals Raises $48.5 Million in Series B Financing

Concert Pharmaceuticals, Inc., a pharmaceutical company developing novel small molecule drugs for unmet medical needs, announced recently that a group of prominent Venture Capital funds has invested $48.5 Million in its Series B financing. The round was led by new investor Flagship Ventures and included Brookside Capital Partners Fund, LP and New Leaf Venture Partners. Also participating in the financing were all previous investors, including Three Arch Partners, TVM Capital, Skyline Ventures, Greylock Partners and QVT Fund LP.

“With this additional funding, and these premier new investors, we will be able to systematically exploit our proprietary technology and rapidly advance our diverse pipeline into clinical evaluation,” said Roger Tung, Ph.D., CEO of Concert. “The enthusiasm of our new and existing investors in funding Concert at a significantly increased valuation is a strong endorsement of our unique approach to creating important new medicines for a broad range of medical conditions.”

In conjunction with this transaction, Doug Cole, General Partner of Flagship Venture Partners will join Concert’s Board of Directors. “Concert’s technology represents a fundamental advance in the creation of new medicines and holds the promise of both greatly reducing R&D cycle times and enhancing the likelihood of successful clinical development,” commented Dr. Cole. “The team has a proven track record of creating value in the biotechnology industry.”

Richard Aldrich, Concert’s Chairman and former CBO at Vertex, also commented, “This round of investment in Concert is recognition of both our pioneering approach to drug discovery and development and our team’s pharmaceutical industry experience. I look forward to working closely with the team as we execute our strategy.”

Concert Pharmaceuticals was co-founded in April 2006 by Roger Tung, Richard Aldrich and Christoph Westphal. Dr. Tung had previously served as Vice President of Drug Discovery at Vertex Pharmaceuticals, and is an inventor of Vertex’s two marketed products. By applying insights derived from existing biologically active compounds, Concert aims to create proprietary and improved medicines while dramatically reducing R&D costs and increasing the probabilities of commercial success.

For more information, please visit: www.concertpharma.com