MerLion Pharmaceuticals Completes US$7 Million Series C
Proceeds will be used to advance the clinical development of finafloxacin, a novel antibiotic with potential to combat a broad range of critical care and hospital treated bacterial infections
Singapore, 13th July 2010 - MerLion Pharmaceuticals Pte Ltd (MerLion), a biotechnology company focussed on the discovery and development of novel antiinfectives and with a leading position in offering natural product research services, today announced the completion of a US$7 million Series C round of financing.
Proceeds from the financing will be used to continue clinical development of the company's most advanced drug candidate, finafloxacin, a broad spectrum antibiotic with a novel pH activation profile, proven safety and that has shown good efficacy in early-stage clinical trials.
Existing investors Aravis Ventures, Aurelia Private Equity, Bio*One Capital, HeidelbergCapital and Venture Incubator participated in the round.
Mr. Jean-Philippe Tripet, Managing Partner of Aravis and MerLion's Chairman, stated: "With this round, existing investors have reiterated their confidence in MerLion management's ability to deliver on both the natural compound platform and finafloxacin as an innovative antibiotic for use in hospital and other settings. With the financing of further clinical trials we believe that the company will be in a position to offer a very attractive package to partners."