Wednesday, January 7, 2009

Anacor Pharmaceuticals Takes $50M More

Palo Alto-based Anacor Pharmaceuticals, a developer of small molecule drugs focused on treating fungal, bacterial, and inflammatory diseases, said Tuesday that it has scored another $50M in a preferred stock financing. The funding came from GlaxoSmithKline, Schering corporation, Rho Capital Partners, Venrock Associates, Care Capital and Aberdare Ventures. The firm said the funding will go towards further developing the firm's product pipeline. The new funding round comes shortly after the withdrawal of the firm's IPO in December; Anacor had been hoping to raise funding on the Nasdaq through an IPO, but pulled its bid shortly before the holidays, saying terms in the public marketplace were not sufficiently attractive to the firm. More information »