Esperion Therapeutics is adding staff, closing on a round of seed capital and prepping for an initial public offering of stock later this year.
The pharmaceutical firm's staff recently jumped to 13 people after making five hires over the last year. It also has a job opening for a senior director of clinical & PT staff. Helping make that expansion possible is the recent securing of $33 million in preferred stock financing. The seed capital round was led by Longitude Capital with Aisling Capital, Alta Partners, Domain Associates, Arboretum Ventures and Asset Management also participating.
Tim Mayleben, Esperion Therapeutics' CEO, declined to comment on the company's growth because it recently filed for an IPO. IPOs come with quiet periods where company representatives are not allowed to promote the upcoming IPO, often leading them to decline speaking about the company altogether to be safe.
Esperion Therapeutics has historically been an Ann Arbor-based company, scoring a $1.3 billion exit when Pfizer acquired it in 2004. Company founder Roger Newton reacquired the firm in 2008 and eventually moved to the Michigan Life Sciences Innovation Center in Plymouth, which is managed by
Ann Arbor SPARK.
Esperion Therapeutic's most advanced product candidate, ETC-1002, is being developed for patients with hypercholesterolemia and other cardiometabolic risk factors. ETC-1002 is a small-molecule metabolic regulator of imbalances in lipid and carbohydrate metabolism and inflammation. It is being developed to address the underlying causes of metabolic diseases and reduce multiple risk factors associated with them.
Source: Tim Mayleben, CEO of Esperion Therapeutics
Writer: Jon Zemke
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