Madrigal Pharmaceuticals Announces $300+ Million In Financing Events To Advance Resmetirom Program

Dec 21, 2022•almost 3 years ago

Amount Raised

$300 Million

ConshohockenBiotechnologyHealth Care

Investors

Hercules Capital, Inc.

Description

Madrigal Pharmaceuticals, Inc. (NASDAQ: MDGL) today announced that it has raised $259 million in gross equity (or $255 million in net proceeds) from equity securities issuances and an additional $50 million in liquidity commitments following the achievement of the clinical milestone under its Hercules Credit Facility.

Company Information

Company

Madrigal

Location

Conshohocken, Pennsylvania, United States

About

Madrigal Pharmaceuticals, Inc. (Nasdaq: MDGL) is a clinical-stage biopharmaceutical company pursuing novel therapeutics for non-alcoholic steatohepatitis (NASH), a liver disease with high unmet medical need. Madrigal’s lead candidate, resmetirom, is a once daily, oral, thyroid hormone receptor (THR)-β selective agonist that is designed to target key underlying causes of NASH in the liver. Resmetirom is currently being evaluated in two Phase 3 clinical studies, MAESTRO-NASH and MAESTRO-NAFLD-1, designed to demonstrate multiple benefits in patients with NASH.

Related People

Funding Insights

Based on industry data

VC-backed spending patterns

VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers

Tech investment trends