Company: Targanta Therapeutics
Financing: $70 million third round
Cambridge, MA-based Targanta Therapeutics landed a huge $70 million third round back in February. The round was The financing was led by Brookside Capital, Skyline Ventures, Radius Ventures, and OrbiMed Advisors, and included existing investors Seaflower Ventures, VenGrowth Advanced Life Sciences Fund, and the Canadian Medical Discoveries Fund, among others.Â
Targantaâ€™ lead drug candidate is oritavancin for complicated skin and skin structure infections; itâ€™s also in Phase II trials for catheter-related bacteremia and nosocomial pneumonia. The drug developer said that the money would be used to file an NDA for oritavancin, which is anticipated in early 2008. In May Targanta filed an $86 million IPO designed to help it quickly commercialize Oritavancin, which will have a shorter period of marketing exclusivity due to delays earlier in its development.