Vancouver-based pharmaceutical company ESSA Pharma Inc (Nasdaq: EPIX; TSX-V: EPI) has closed a public offering and private placement, generating proceeds of about $48 million (US$36 million). The offering was led by Soleus Capital and included new investor RA Capital Management, a U.S. healthcare and life sciences investment firm. Existing backers of ESSA, including BVF Partners, Omega Funds and Eventide Funds, also participated. The company is also backed by Clarus Ventures, a U.S. life sciences venture capital firm acquired last year by Blackstone Group. Founded in 2009, ESSA is focused on developing therapies for treating castration-resistant prostate cancer. It will use the deal's proceeds for continued research and development.
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