After a big-money Allergan deal, Taris returns with a $32M round and a new pipeline

Massachusetts' Taris Biomedical is getting back into R&D after flipping its lead asset to Allergan ($AGN) in a $587.5 million deal, raising $32 million to advance new treatments for bladder disease. The funds, courtesy of Flagship Ventures, Polaris Venture Partners and RA Capital Management, will help the revamped Taris develop some preclinical treatments for bladder cancer, overactive bladder and two other undisclosed indications, the company said. Alongside its new financing, the company has recruited a vice president of clinical development and added to its board of directors, leadership additions the company said will help shape its future. The Allergan deal, signed last year, was an affirmation of Taris' baseline science, management said, and the company is now looking to build on its earlier success by establishing a range of therapies in urology. More (PDF)

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