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Finance Watch: Tetraphase Reorganization Follows Troubled Antibiotic Commercialization Path

 
• By Mandy Jackson

Tetraphase's plan to downsize may put the company on the same path as now-bankrupt Achaogen. Also, Bain raises $900m for its second life science fund, Provention calls off post-ADA offering and Oncologie raises $80m series B.

Finance Watch

Tetraphase Pharmaceuticals Inc. took the first step toward following fellow antibiotic developer Achaogen Inc.'s troubled path, deciding recently to reorganize its business so that it can focus entirely on the commercialization of its first marketed product Xerava (eravacycline).

Watertown, MA-based Tetraphase said on 12 June that it intends to wind down its internal research and development functions, and out-license its antibacterial and oncology drug candidates. Eliminating R&D operations and cutting 24 associated jobs will save the company $8.2m in annual costs

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