Upstart Pearl Therapeutics, which is developing therapies for respiratory disorders, has raised $15.5 million in its first round. The Redwood City, CA-based biotech's round was co-led by New Leaf Ventures and Clarus Ventures with 5AM Ventures as a major participant. Pearl has in-licensed a suite of particle technologies from Nektar Therapeutics. The biotech was co-founded by two former members of Nektar's corporate and product development organizations.
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ALSO: San Diego-based Cyntellect has completed a $3 million second closing on its Series D round. This closing follows the initial Series D closing of $15.1 million. Release