Ascendis Pharma A/S (ASND): Orbimed Advisors Takes Activist Stake in Newly Public Company

In collaboration with commercial rights holder Sanofi SA (ADR) (NYSE:SNY), Ascendis has two treatments for Diabetes in the preclinical stage, TransCon Insulin, and TransCon Peptide. They also have a similar partnership with Genentech, with a preclinical stage of development for TransCon Ranibizumab (Lucentis), used in the treatment of a number of opthalmic conditions, including Age related Macular Edema.

Ascendis Pharma A/S (NASDAQ:ASND) is only one of a number of drug companies which have launched IPO’s within the past couple of weeks. Others include Entellus Medical Inc (NASDAQ:ENTL), which develops minimally invasive therapeutic sinus treatements, which went public on January 30, and Spark Therapeutics Inc (NASDAQ:ONCE), which develops gene therapy treatments. Among their trials is a phase 3 trial for SPK-RPE65, for use in the treatment of inherited retinal dystrophies. Spark went public on February 2.

Orbimed also built a large activist stake recently in Sientra Inc (NASDAQ:SIEN), upon the launch of that company’s IPO, with 3.19 million shares equaling a 22.51% ownership stake in the company. They were also quick to nominate a candidate for Sientra’s Board of Directors, Rishi Gupta. Orbimed was a longtime investor in Sientra before they went public, and Gupta, a Principal at Orbimed, had served on Sientra’s Board while they were a private company.

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