Tetraphase Pharmaceuticals, a Watertown, MA-based clinical stage biopharmaceutical company utilizing a synthetic chemistry technology to discover and develop innovative antibiotics, has raised $45m in a Series C financing.
The round was led by Excel Venture Management, with participation from existing investors CMEA Ventures, Fidelity Biosciences, Flagship Ventures, Mediphase Venture Partners and Skyline Ventures.
The funds will be used to advance Tetraphase’s pipeline of novel antibiotics, into Phase 1 and Phase 2 clinical studies.
The company’s lead product candidate, TP-434, a broad spectrum intravenous (IV) antibiotic with the potential for superior potency against Gram- negative pathogens, is anticipated to enter Phase 2 clinical studies in 2010.
In addition, Tetraphase will advance two novel IV/oral antibiotics, TP-2758, which is designed to treat complicated urinary tract infections (cUTI) and, TP-834, for the treatment of community acquired bacterial pneumonia (CABP).
Commenting on the funding, Guy Macdonald, President and Chief Executive Officer of Tetraphase, was quoted as saying: “This new financing will allow us to advance our portfolio of novel antibiotic candidates into the clinic to address serious infections caused by drug-resistant gram-negative bacterial pathogens where few treatment options exist”.
In conjunction with this latest financing, Dr. Gullans of Excel Venture Management will join the company’s board of directors.