Rempex Pharmaceuticals, Inc., a San Diego, CA-based biopharmaceutical company that focuses on developing internally discovered new treatments for resistant gram-negative infections has completed the initial closing of a Series B financing.
New investors Frazier Healthcare Ventures and Vivo Ventures joined existing investors SV Life Sciences, OrbiMed Advisors and Adams Street Partners in a total $67.5m round.
This financing, together with a previous Series A round, brings the total financing commitment for Rempex to $76m since its founding in June 2011.
The company expects to file a New Drug Application (NDA) with the United States Food and Drug Administration (FDA) for its first product candidate in the second half of 2012 and an Investigational New Drug Application (IND) with the FDA for its second product candidate in the first quarter of 2012.
According to President and CEO Daniel Burgess, the financing gives Rempex the resources to advance its development programs towards commercialization.