Versartis, Inc.  announced completion of a USD 21 million Series B financing, by New Leaf Venture Partners and Advent Venture Partners' Advent Life Sciences fund also joined the round along with existing investors Index Ventures and Amunix.

Versartis plans to use the proceeds primarily to conduct clinical trials of its lead product, VRS-317, for growth hormone deficiency (GHD) in both adult and pediatric patients.  VRS-317 is a once monthly form of recombinant human growth hormone (rhGH). Preclinical data previously presented have demonstrated that VRS-317 provides comparable biological activity and safety to daily rhGH with a lower total monthly dose of rhGH.  Versartis currently plans to begin enrollment in a multi-center Phase 1 study in adult GHD patients in the first quarter of 2011.

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Versartis, Inc.