Danish clinical-stage biopharmaceutical company Ascendis Pharma announced that it has launched a joint venture (JV) with U.S. Vivo Capital to develop its endocrinology rare disease therapies in Greater China. 

Under the joint venture agreement, Vivo Capital led syndicate will own a 50 percent stake in Visen Pharma, the JV, in return for a $40 million investment. 

French venture capital firm Sofinnova also participated in the funding. Ascendis will transfer China rights to three of its rare disease drugs into Visen and own the remaining 50 percent. 

The three Ascendis products TransCon hGH, TransCon PTH and TransCon CNP are in late-stage clinical trials outside of China.