Pearl Therapeutics Inc., a Redwood City, CA-based company that develops clinically differentiated combination therapies for the treatment of highly prevalent chronic respiratory diseases, including chronic obstructive pulmonary disease (COPD), closed a $69m Series C financing.
The round was led by Vatera Healthcare Partners, with participation from existing investors, Clarus Ventures, New Leaf Venture Partners and 5AM Ventures.
This capital, which brings the total amount raised by the company to $102.5m since 2007, will enable Pearl to complete the entire Phase 2b program for its lead product, PT003, a combination bronchodilator for the treatment of patients with COPD. Following the conclusion of the Phase 2b program, Pearl expects to initiate Phase 3 clinical trials in late 2012.
In conjunction with the financing, Vatera Holdings LLC managing director, Sundar Kodiyalam has joined Pearl’s board of directors. Additionally, Vatera Holdings executive-in-residence, Thomas Koestler, has been appointed as a board observer.