Cempra Pharmaceuticals Closes $46 Million Series C Financing
Cempra Pharmaceuticals, Inc., a clinical-stage company developing novel antibiotics for difficult-to-treat and drug-resistant infections, announced that it has successfully raised $46 million in a Series C financing. The funds will be used for the continued clinical development of CEM-101, Cempra"s lead macrolide compound; CEM-102, its promising oral antibiotic for gram-positive infections; and other preclinical stage, non-antibacterial macrolide programs. Quaker BioVentures led the Series C round, which also included Devon Park Bioventures, as well as original investors, Aisling Capital, Intersouth Partners, investment banker Wistar Morris III, and Teachers" Private Capital. Geeta Vemuri, Ph.D., Partner at Quaker BioVentures, will join the board with this financing.
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