Concert Pharma orchestrates a $37M round three

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Concert Pharmaceuticals Inc. reports it has closed a $37 million Series C round of venture capital to develop its pipeline of drugs for hot flashes and other conditions.

The Lexington-based biotech firm's third round included the following investors: Adage Capital Management LP, a Boston investment firm; SR One Ltd., the venture capital arm of British drug giant GlaxoSmithKline PLC; Newton venture capital firm Mediphase Venture Partners; and Westfield Capital Management, a Boston investment firm.

Concert noted that all investors from previous rounds -- Three Arch Partners, TVM Capital, Skyline Ventures, Brookside Capital Partners Fund LP, Flagship Ventures, Greylock Partners, New Leaf Venture Partners and QVT Fund LP -- also contributed to the latest financing.

The 40-person firm has now closed a total of $95.5 million through its three rounds of venture capital, according to its website. Its technology involves the use of a natural element, deuterium, to modify validated drug compounds to create so-called new chemical entities, or NCEs.

The biotech firm said it plans to enter its first clinical trial in the second half of 2008 with an NCE treatment for hot flashes.

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