Pearl Therapeutics Inc., a Redwood City, CA-based developer of therapies for the treatment of chronic respiratory diseases, announced a $15m financing from existing investors Clarus Ventures, New Leaf Venture Partners and 5AM Ventures.
The capital was raised through a convertible loan facility that will convert to Pearl equity at the time of a Series C financing.
The company will use the new capital to initiate a Phase 2b clinical trial of PT003, its lead combination therapeutic for the treatment of chronic obstructive pulmonary disease (COPD).
Pearl also announced that it has promoted William Picht, Jr., to vice president, finance and administration.
FinSMEs
01/02/2010