Company: Targanta Therapeutics
Based: Cambridge, MA
Investors: Brookside International Incorporated, CDP Capital - Technology Ventures, Canadian Medical Discoveries Fund, Fonds de Solidarite des Travailleurs du Quebec, GeneChem Financial Corporation, Individuals, OrbiMed Advisors, Radius Ventures, Seaflower Ventures, Skyline Ventures, T2C2 Capital, Undisclosed Corporate Investor, VenGrowth Capital Funds
Scoop: Targanta's lead drug candidate is oritavancin for complicated skin and skin structure infections; itâ€™s also in Phase II trials for catheter-related bacteremia and nosocomial pneumonia. The drug developer said that the money would be used to file an NDA for oritavancin, which is anticipated early this year. The company also has a number of antibacterial agents currently in pre-clinical development. Targanta went public in a $57.5 million IPO in May 2007.