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TetraPhase's Series C

 
• By Carlene Olsen

Anti-infective developer TetraPhase Pharmaceuticals announced June 1 its $45 million Series C financing, with participation from a syndicate of new and existing backers. The financing is one of the richest of the year, just below the April $56 million Series C pulled in by Achaogen, which is also developing antibiotics for drug resistant diseases. And it far exceeds the average Series C financing of $19.77 million raised between January and May of this year.

Anti-infective developer Tetraphase Pharmaceuticals Inc. announced June 1 its $45 million Series C financing, with participation from a syndicate of new and existing backers. [See Deal] The money will be used to advance its lead candidate, an intravenous antibiotic against gram-negative pathogens, into Phase II studies later this year. Funds will also be used to move the biotech's two novel IV/oral antibiotics into the clinic: TP-2758, for complicated urinary tract infections (cUTI); and TP-834, for the treatment of community acquired bacterial pneumonia (CABP).

The financing is one of the richest of the year, just below the April $56 million Series C pulled in...

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