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news.Clarus Therapeutics has closed an $8 million series C financing round. HIG Ventures led the round, joined by Thomas, McNerney & Partners, the sole institutional investor in the series A and B rounds.
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In conjunction with the series C financing, Bruce Robertson and Michael Wasserman of HIG Ventures will join Alex Zisson and James Thomas from Thomas, McNerney & Partners and president and CEO Robert Dudley, on Clarus’s board of directors.
To date, Clarus has secured venture funding commitments totaling $15 million. Clarus will use the proceeds to support Phase II development of OriTex, its proprietary oral testosterone product being developed for use in men with low testosterone levels.
Robert Dudley, president and CEO of Clarus, said: “We are confident in our ability to move OriTex through advanced stages of clinical testing and we now have the funds that will enable us to work rapidly towards achieving this goal.”