By E. Janene Geiss
Philadelphia, Dec. 14 - Optimer Pharmaceuticals, Inc. said it raised $34.2 million in venture capital, $12 million in a series C financing round and $22.2 million in a series D round.
ProQuest Investments, Lurie Investments, BB Biotech Ventures, SB Life Science Ventures, UOB JAIC Venture Bio Investments, China Development Industrial Bank, ESun Bank Group, Fubon Financial Holding Venture, Global Strategic Investments, Oriental Union Chemical Corp. and Taiwan Global BioFund were the investors in the $22.2 million series D round, which closed Nov. 30.
Par Pharmaceutical Cos., Inc. made the $12 million series C equity investment that included a joint collaboration agreement to develop PAR-101, a narrow spectrum antibiotic designed to treat clostridium difficile-associated diarrhea for the North American market. That round closed April 29, 2005, company officials said.
"We are extremely fortunate to have the endorsement and continued support from such a high quality and diverse group of investors," Michael N. Chang, president and chief executive officer said in a statement. "Notably, the addition of new investors to the company highlights the progress that Optimer has made in its drug development activities. Our goal to develop drugs for life threatening diseases can only be enhanced through associations with such prestigious investors."
As part of the financings, Mark Auerbach, executive chairman of the board of directors for Par Pharmaceutical, and Martin Muenchbach, partner at Bellevue Asset Management Group, joined the Optimer board of directors.
Optimer, a San Diego pharmaceutical company, has two late-stage drugs under development to treat life-threatening bacterial infections.
| Issuer: | Optimer Pharmaceuticals, Inc.
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| Issue: | Series C financing
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| Amount: | $12 million
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| Investors: | Par Pharmaceutical Cos. Inc.
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| Settlement: | April 29, 2005
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| Announcement date: | Dec. 14
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| Issuer: | Optimer Pharmaceuticals, Inc.
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| Issue: | Series D financing
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| Amount: | $22.2 million
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| Investors: | ProQuest Investments, Lurie Investments, BB Biotech Ventures, SB Life Science Ventures, UOB JAIC Venture Bio Investments, China Development Industrial Bank, ESun Bank Group, Fubon Financial Holding Venture, Global Strategic Investments, Oriental Union Chemical Corp., Taiwan Global BioFund
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| Settlement: | Nov. 30
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| Announcement date: | Dec. 14
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