Trevose, PA-based InfaCare Pharmaceutical has rounded up $28 million for its Series B, with much of the money earmarked for a late-stage trial. HealthCare Ventures led the round and Harold Werner, a partner with HCVEN, will join InfaCare's board of directors. First-time investor Longitude Capital also joined the round with all current investors, including FirstMark Capital and Atlas Venture, contributing funds.
InfaCare's lead compound, Stanate, is intended to treat neonatal hyperbilirubinemia and is expected to enter Phase III next year. InfaCare says that Stanate is the only pharmacological agent currently in development designed to prevent bilirubin from reaching toxic levels in hemolyzing neonates.
"We expect the proceeds of this financing to provide the capital necessary to achieve value creating milestones for the company, including phase IIb results for our lead product," said CEO Dan Burns. InfaCare raised $30 million for its Series A in 2006.
- check out InfaCare's release