Taris Biomedical, a Lexington, Mass.-based specialty pharmaceutical company, raised $12.5m in financing.
Backers included existing investors Flagship Ventures, Flybridge Capital Partners, Polaris Partners and Third Rock Ventures.
The company intends to use the capital to continue the clinical advancement of its lead product candidate, LiRIS® (Lidocaine Releasing Intravesical System), in patients with Interstitial Cystitis.
Led by Purnanand Sarma, PhD, President and CEO, Taris Biomedical develops innovative, targeted therapies to treat bladder diseases. The company just announced dosing of its first patient in its second randomized, placebo controlled Phase 2 study of LiRIS® in Interstitial Cystitis. This study is being conducted in the US and Canada, and is currently open for enrollment.
In addition to Interstitial Cystitis, Taris is developing a pipeline of novel, targeted therapies designed to treat a variety of bladder diseases, such as bladder cancer and urinary incontinence, utilizing its novel targeted bladder delivery system.
13/04/2011: TARIS Biomedical Raises $18.3M in Series B Financing