Gloucester Pharmaceuticals raises funds for the development of romidepsin

Gloucester Pharmaceuticals today announced that it has raised $29 million in a Series D financing. The proceeds will be used to support the ongoing development of romidepsin, a novel histone deacetylase (HDAC) inhibitor for the treatment of T-cell lymphomas and other hematologic malignancies. The financing was led by new investor Novo A/S and included current investors Apple Tree Partners, ProQuest Investments, Prospect Venture Partners and Rho Ventures. Concurrent with the financing, Thomas Dyrberg, M.D., Senior Partner at Novo Ventures, will join the Board of Directors for Gloucester Pharmaceuticals.

Gloucester has filed a New Drug Application (NDA) for romidepsin in cutaneous T-cell lymphoma (CTCL) that is under review with the U.S. Food and Drug Administration (FDA). An Oncology Division Advisory Committee (ODAC) meeting is scheduled for September 2, 2009 to review romidepsin and a Prescription Drug User Fee Act (PDUFA) date is scheduled for November 12, 2009.

“We are extremely pleased to welcome Dr. Dyrberg to our Board of Directors and are grateful for the continued strong financial support of our current investors,” said Alan Colowick, M.D., Chief Executive Officer of Gloucester Pharmaceuticals. “We look forward to being able to deliver on the clinical promise of romidepsin as a therapeutic option for the treatment of T-cell lymphomas.”

Thomas Dyrberg, M.D., Senior Partner at Novo Ventures commented, “We are pleased to be able to join Gloucester at such an exciting time in its history. The Company has accomplished a great deal and we look forward to being a part of the progress that we believe will result in bringing this important new product to patients with T-cell lymphomas and potentially other hematologic malignancies.”

www.gloucesterpharma.com