Iterum Therapeutics Limited, a Dublin, Ireland-based pharmaceutical company focused on the development and commercialization of new therapies to address unmet medical needs, secured a $40 million Series A financing.
The round was led by Frazier Healthcare Partners with participation from Canaan Partners, Sofinnova Ventures and New Leaf Venture Partners. In conjunction with the A round, Brent Ahrens, general partner at Canaan Partners; Dr. James Healy, general partner at Sofinnova Ventures; Patrick Heron, managing general partner at Frazier Healthcare Partners; and Ron Hunt, managing director at New Leaf Venture Partners; joined Iterum’s board.
The company intends to use the funds for the licensing and product development activities. Iterum has also announced that it has licensed global rights to a novel anti-infective compound from a top-tier multinational pharmaceutical company.
Led by CEO Corey Fishman, and Chief Scientific Officer Dr. Michael Dunne, Iterum Therapeutics Limited is a clinical-stage pharmaceutical company dedicated to developing differentiated anti-infectives. Its first product is a novel anti-infective compound that has demonstrated potent in-vitro activity vs. a wide variety of gram-negative, gram-positive and anaerobic bacteria resistant to other antibiotics.