Rare Disease Biotech Co. Hopes to Move Headquarters to Newton or Cambridge

Based in Newton Centre, Chiasma is hoping to find a new, larger headquarters in the Newton or Cambridge area, the CEO recently told the Boston Business Journal.

The rare disease biotech company recently financed $70 million and is seeking approval of its first drug soon.

Chiasma develops octreotide capsules, which is a product for the orphan condition acromegaly, which is a rare endocrine disease. On Feb. 27, the company announced it closed its Series E financing round, garnering $70 million from participants such as Rock Springs Capital and Sofinnova Ventures in an “undisclosed blue chip public investment fund.” Existing investors are MPM Capital, F2 Capital, 7 Med Health Ventures, Abingworth and ARCH Venture Partners.

“If approved, octreotide capsules would be the first and only oral somatostatin analog, providing another option to patients currently receiving painful injections,” said the release.