Great Lakes Pharmaceuticals, Inc., a Cleveland, Ohio-based clinical-stage company focused on eliminating microbial infections associated with biofilm formation, completed a $3.1m Series B equity financing.
The round was led by Charter Life Sciences, with participation from Early Stage Partners, Everett Partners, Ltd, Ohio TechAngel Fund and North Coast Angel Fund.
The Company will use the funds to complete a pivotal clinical study of B-Lock™, an antimicrobial catheter lock solution that kills methicillin sensitive and resistant strains of Staphylococcus aureus (MRSA), vancomycin resistant Enterococci (VRE), Pseudomonas aeruginosa, Klebsiella, Acinetobacter, resistant strains of Candida and other microbial species known to invade indwelling catheters and cause life-threatening infections.
Great Lakes Pharmaceuticals has completed extensive pre-clinical safety testing and intends to file an IDE in the third quarter of 2010 to begin human clinical trials.
In addition to developing the product for the US market, the company is seeking product approval in Canada, and European and South American jurisdictions.
FinSMEs
27/07/2010