Taris Biomedical LLC, a Lexington, MA-based company using proprietary delivery technology and expertise in bladder biology to develop novel treatments for urologic diseases, raised $32m in funding.
The round was led by Flagship Ventures with participation from return investor Polaris Venture Partners and new investor RA Capital Management.
The company, which last year sold its lead clinical program to Allergan Inc. in a transaction worth up to $587.5m, including up-front payment, development and commercial milestones, will use the proceeds to advance a new pipeline that targets a range of bladder diseases, launch multiple clinical trials over the next 12 months and further expand the team.
Led by Purnanand Sarma, Ph.D., President and Chief Executive Officer, Taris is building a therapeutically-focused urology company developing therapies for debilitating conditions, including bladder cancer and overactive bladder, enabled by continuous local dosing where it is needed.
The company, TARIS Biomedical LLC, was formed as part of the transaction between TARIS Biomedical, Inc., and Allergan in August 2014. This new entity retained the management team, pipeline programs and intellectual property related to TARIS’ platform technology, other than those acquired by Allergan.
Co-founders include MIT scientist and serial entrepreneur Robert Langer Sc.D. and MIT scientist Michael Cima Ph.D., both of whom continue to serve on the company’s board. To support growth, the company has added Christopher Cutie, M.D., to its senior leadership team as Vice President of Clinical Development, adding to the company’s existing expertise in bladder diseases and drug-device combinations.