With its lead therapy as little as two years from approval, Durham, NC-based Tranzyme has pocketed a $20 million injection from its venture backers. The biotech is developing therapies for post-operative ileus and diabetic gastroparesis. TZP-101 is being tested in Phase IIb trials to determine if it is more effective than standard therapy. Data is expected this spring with a round of final testing to get started soon after. Thomas, McNerney & Partners, Quaker BioVentures and H.I.G. Ventures are gambling their money that Tranzyme can deliver. "This capital will allow us to bring our first-in-class GI motility drug, TZP-101, into Phase III clinical studies for multiple indications," said CEO Vipin K. Garg, Ph.D. Tranzyme was a 2005 Fierce 15 company.
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ALSO: San Diego-based Novalar Pharmaceuticals has closed a $30 million Series D financing. The money is being used to support the U.S. launch of NV-101, a first-in-class, local dental anesthetic reversal agent, and the development of other dental pharmaceuticals in Novalar's pipeline. Release