Fundraisings and IPOs

Date: 0000-00-00

Type of information: Series B financing round

Company: Iterum Therapeutics (Ireland)

Investors: Arix Bioscience (UK) Pivotal bioVenture Partners (USA - CA) Bay City Capital (USA - CA) Advent Life Sciences (UK) Domain Associates (USA - NJ) Frazier Healthcare Partners (USA - WA) Canaan Partners (USA - CA) Sofinnova Ventures (USA - CA) New Leaf Venture Partners (USA - CA)

Amount: $65 million

Funding type: series B financing round

Planned used: Iterum Therapeutics is an Irish clinical-stage pharmaceutical company focused on the development and commercialization of anti-infectives for patients with infectious diseases and other acute illnesses. The company is developing sulopenem, a novel oral and intravenous antibiotic, for the treatment of Gram-negative multi-drug resistant infections. The proceeds of this financing will be used for production of clinical supplies and registration batches, expanding the chemistry, manufacturing and control and development organizations and execution of the uncomplicated urinary tract infections Phase 3 pivotal program. The estimated timeline for filing an New Drug Application (NDA) with the FDA is year-end 2019, with Phase 3 pivotal trials expected to begin in the first half of 2018.

Others:

• • On May 19, 2017, Iterum Therapeutics announced that it has closed an oversubscribed Series B investment round raising $65 million. The financing was led by new investor Arix Bioscience plc, and included Pivotal bioVenture Partners, Advent Life Sciences, Domain Associates and Bay City Capital. All of Iterum’s current investors (Frazier Healthcare Partners, Canaan Partners, Sofinnova Ventures and New Leaf Venture Partners) also participated in the round.
• As part of the financing, Mark Chin of Arix Bioscience, Tracy Saxton of Pivotal bioVenture Partners and Shahzad Malik of Advent Life Sciences will join Iterum’s Board of Directors.

Therapeutic area: Infectious diseases

Is general: Yes