Rempex raises $67.5 million in Series B financing
Rempex Pharmaceuticals has completed the initial closing of a Series B financing. New investors Frazier Healthcare Ventures and Vivo Ventures joined existing investors SV Life Sciences, OrbiMed Advisors and Adams Street Partners in committing to a total of $67.5 million for this round. This financing, together with a previous Series A round, brings the total financing commitment for Rempex to $76 million since the company's founding in June 2011.
Rempex is focused on developing internally discovered new treatments for resistant gram-negative infections. The company expects to file a New Drug Application (NDA) with the FDA for its first product candidate in the second half of 2012 and an Investigational New Drug Application (IND) with the FDA for its second product candidate in the first quarter of 2012.
"This financing gives us the resources to rapidly advance our development programs towards commercialization at a time when the need for new treatments for resistant gram-negative infections has become critical," stated Daniel Burgess, president and chief executive officer of Rempex.