Targenta raises $70M series C financing
Targanta Therapeutics, a privately-held US biopharmaceutical company developing antibacterial drugs, has raised $70.0 million in a Series C venture round, led by Brookside Capital, Skyline Ventures, Radius Ventures, and OrbiMed Advisors, and included existing investors Seaflower Ventures, VenGrowth Advanced Life Sciences Fund and the Canadian Medical Discoveries Fund.
The company intends to utilize this capital to prepare and submit the New Drug Application for its lead product, oritavancin, for the treatment of complicated skin and skin structure infections. Targanta expects to file the NDA in the second half of the year. In addition, the financing will help fund new oritavancin clinical trials in pneumonia and bacteremia, as well as a single-dose treatment for cSSSI.
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