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news.Tetraphase Pharmaceuticals has raised $45m through a series C financing to advance its portfolio of antibiotic candidates to treat drug-resistant infections.
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Reportedly, Tetraphase will use the funds to advance its pipeline of antibiotics, into Phase 1 and Phase 2 clinical studies. The company’s TP-434, a broad spectrum intravenous (IV) antibiotic with the potential for superior potency against Gram- negative pathogens, is expected to enter Phase 2 clinical studies in 2010.
In addition, Tetraphase will also advance two IV/oral antibiotics, TP-2758, which is designed to treat complicated urinary tract infections (cUTI) and, TP-834, for the treatment of community acquired bacterial pneumonia (CABP).
Excel Venture Management led the financing round with participation from existing investors CMEA Ventures, Fidelity Biosciences, Flagship Ventures, Mediphase Venture Partners and Skyline Ventures.
Guy Macdonald, president and CEO of Tetraphase, said: “This new financing will allow us to advance our portfolio of novel antibiotic candidates into the clinic to address serious infections caused by drug-resistant gram-negative bacterial pathogens where few treatment options exist.”
Tetraphase Pharmaceuticals is a clinical stage biopharmaceutical company utilizing its synthetic chemistry technology platform to discover and develop tetracycline antibiotics that address unmet needs for serious infections such as drug resistance and Gram-negative infections.