San Diego-based Mpex Pharmaceuticals has raised $32 million in its second round of venture capital. The round was led by SV Life Sciences. The biotech's most advanced candidate is an aerosol antibacterial being developed to treat patients with cystic fibrosis and those with other serious respiratory infections. "This capital will enable us to advance our first two candidates through preclinical and early clinical development, as well as attract and support future R&D partnerships," said Mpex President and CEO Bill Gerhart.
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