Venture groups snap up $50M block of Achillion shares

Achillion Pharmaceuticals is raising $50 million through the sale of its common shares to a slate of venture backers in a deal designed to fuel its clinical trial work on new hepatitis C drugs. Domain Associates, Clarus Ventures, Quaker BioVentures and Pappas Ventures are buying 19,755,101 shares at $2.49 each with warrants on another block of shares. Last May Achillion's shares jumped to $2.89, rising 22 percent after the developer reported promising preliminary data from an early-stage trial...

Achillion shares spike on promising hep C data

Shares of Achillion Pharmaceuticals jumped 22 percent after the developer announced that preliminary data from an early-stage trial demonstrated that its hepatitis C drug was effective on a once-daily dose using a lower dosage. ACH-1625 spurred meaningful drops in virus levels after five days of treatment. "We remain very encouraged by these compelling results and look forward to advancing the drug into Phase 2 studies in the coming months," Chief Executive Michael Kishbauch said in a...