Upstart Cempra Pharmaceuticals has raised $14 million in new venture capital to advance its pipeline of antibiotics. This Morrisville, NC-based biotech has proven to be a fast mover, inking a licensing deal with Optimer for macrolides and ketolides, which fight macrolide-resistant bacteria. Intersouth Partners and investor I. Wistar Morris III co-led the first round, which followed angel financing.
"We believe that Cempra is positioned to make significant breakthroughs in macrolides that will serve thousands of patients every year," Intersouth's Garheng Kong said in a statement. "The company's proprietary chemistry platform will enable a series of macrolides previously unavailable. We're excited to be working with Cempra to develop this important class of drugs."
- check out the report on Cempra from LocalTechWire
PLUS: Cambridge, MA-based TolerRx has raised $35.6 million to advance its lead product--TRX4--for Type 1 diabetes. The Juvenile Diabetes Research Foundation contributed part of the funds. Release
ALSO: LipoScience has raised $13 million in fresh venture capital, largely to advance new products and promote its NMR LipoProfile, which measures lipoprotein particles in the blood. Report