Ascendis Pharma Invests $12.5 Mln In VISEN Pharma

(RTTNews) - Ascendis Pharma A/S (ASND) said that it has invested $12.5 million in VISEN Pharmaceuticals, as part of VISEN's $150 million Series B financing.

In 2018, Ascendis granted VISEN exclusive rights to develop and commercialize TransCon hGH (lonapegsomatropin), TransCon PTH and TransCon CNP in China and received 50 percent ownership of VISEN's issued and outstanding shares.

Ascendis retains about 44 percent of VISEN's issued and outstanding shares, following VISEN's Series B financing. As a result, Ascendis expects to recognize a non-cash gain in the first quarter of 2021.

Michael Wolff Jensen, Chairman, Senior Vice President and Chief Legal Officer of Ascendis, became a member of VISEN's board and serves as Chairman. Mikkelsen also will continue to serve on VISEN's board.