Chiasma’s proprietary Transient Permeability Enhancer (TPE®) technology enables oral delivery of drugs that must otherwise be given by injection. The company focuses on peptide drugs. Its lead investigational candidate, octreotide capsules, is being developed for the treatment of acromegaly, a rare disorder caused by an overproduction of growth hormone. Many acromegaly patients are currently treated with a long-acting injectable formulation of octreotide that is administered once every month in a doctor’s office. The injections can be painful and cause unpleasant side-effects, and many patients become frustrated with the burden of monthly doctor’s appointments.
Chiasma’s oral octreotide capsules, taken twice daily, could provide a more convenient and less painful alternative to monthly injections. The investigational agent has successfully completed a full set of pharmacokinetic and pharmacology studies, as well as a multicentre Phase 3 study in adults with acromegaly. In June 2015, Chiasma submitted a New Drug Application for octreotide capsules to the US FDA, for the maintenance treatment of adults with acromegaly. The following month, the company closed a US IPO with gross proceeds of $117 million.
Abingworth co-led a $38.5 million Series D financing for Chiasma in 2012, and also participated in a $70 million Series E financing in early 2015. Vincent Miles served on the company's Board from July 2012 until the closing of the IPO in 2015.