Press Releases 10.06.2009
Tetraphase Pharmaceuticals Completes Series B Financing to Support the Advancement of Novel Antibiotic Drug Candidates
Raises $10M to close first tranche of $25M Financing
WATERTOWN, Mass.--(BUSINESS WIRE)--Tetraphase Pharmaceuticals Inc. announced today that it has closed the first tranche of its $25 million Series B financing to support the advancement of several novel and potent antibiotic drug candidates. This Series B Financing and first tranche of $10 million was funded by existing investors – Mediphase Venture Partners, CMEA Ventures, Fidelity Biosciences, Flagship Ventures and Skyline Ventures.
Tetraphase Pharmaceuticals was established in August 2006 to advance and commercialize the ground-breaking synthetic chemistry platform developed by internationally recognized chemist, Dr. Andrew Myers of Harvard University. This proprietary platform overcomes a key barrier to discovering unprecedented classes of antibiotics and other drugs by enabling for the first time their total synthesis from basic building blocks. The initial focus of the company is on the discovery of novel antibiotics to treat drug-resistant infections.
“This is an exciting time for Tetraphase, as we move our lead compound into the clinic and advance our pipeline of novel and potent antibiotic drug candidates,” said Guy Macdonald, President and Chief Executive Officer.
About Tetraphase Pharmaceuticals Inc.
Tetraphase Pharmaceuticals is capitalizing on breakthrough synthetic chemistry technology for drug discovery and development based on a process developed by world leading organic chemist Dr. Andrew Myers of Harvard University. This enabling advance in chemistry provides the company with a broad-range of commercial opportunities across a number of significant disease categories.
Tetraphase Pharmaceuticals Inc.
David Lubner, 617-715-3551
Sr. Vice President and Chief Operating Officer