Tuesday, October 19, 2010

Pearl Therapeutics Gets $69M

Redwood City-based Pearl Therapeutics, a developer of biopharmaceuticals for treating chronic obstructive pulmonary disease (COPD) and other chronic respiratory diseases, announced this morning that it has raised $69M in a Series C financing round. The round was led by Vatera Healthcare Partners, and also included Clarus Ventures, New Leaf Venture Partners and 5AM Ventures, all prior investors in the firm. The new funding brings the company's total raised to $102.5M. The firm said the new funds will go towards completing a Phase 2b clinical program for its lead product, PT003; the firm is expecting to enter Phase 3 clinical trials in late 2012.