[April 04, 2016] |
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Entasis Announces $50 Million Series B Financing led by Clarus
Entasis
Therapeutics, a company focused on the discovery and development of
breakthrough anti-infective products, today announced the completion of
a $50 million Series B financing to advance its pipeline of clinical and
preclinical products. The financing was led by Clarus and included
Frazier Healthcare Partners, Novo A/S, and Eventide Funds, who joined
founding investor AstraZeneca.
Concurrent with the financing, Entasis has expanded its Board of
Directors to include Nicholas Galakatos, Ph.D., Co-founder and Managing
Director of Clarus as Chairman; James Topper, M.D., Ph.D., Managing
General Partner of Frazier Healthcare Partners; and Peter Tuxen
Bisgaard, Senior Partner of Novo Ventures (US) Inc.
"We are pleased to have such a high-quality and experienced group of
investors join us as we develop transformative therapies for patients
suffering from serious and life-threatening infections," said Manos
Perros, Ph.D., President and Chief Executive Officer of Entasis. "The
proceeds from this financing will enable us to further advance our
portfolio of innovative anti-infective products directed at addressing
the global health crisis created by the rise in antibiotic resistance in
a fundamentally differentiated way."
Entasis' pipeline consists of first- and best-in-class clinical and
preclinical-stage antibiotics for major Gram-negative infections, which
target essential bacterial processes in a fundamentally novel way. These
were discovered and are being developed using a unique, integrated
discovery platform and strong clinical capabilities.
"Our investment reflects our excitement about the quality of the Entasis
product pipeline and our confidence in the team," said Dr. Galakatos.
"We look forward to advancing these promising candidates in order to
treat serious, drug-resistant bacterial infections where existing and
incrementally innovative approaches are failing."
About Entasis Therapeutics Inc. Entasis Therapeutics is
developing a portfolio of innovative cures for serious drug-resistant
bacterial infections, a global health crisis affecting the lives of
millions of patients. Our deep pipeline of fundamentally innovative
clinical and preclinical anti-infective programs is designed to
revolutionize the way physicians treat serious bacterial diseases. www.entasistx.com
About Clarus Clarus is a leading global investment firm
dedicated to life sciences. Founded in 2005 by a team of accomplished
investment and operating professionals, Clarus manages over $1.7
billion and has invested in more than 50 private and public companies in
the biotechnology, medical device and diagnostic spaces. In every
investment, Clarus employs a hands-on philosophy and adheres to
investment principles that are founded on core competencies in drug
development, complex partnership structuring and the ability to adapt to
an ever-changing investment landscape. Clarus strives to generate
outstanding returns for its investors by identifying and financing
innovative medicines that improve people's lives. Clarus has offices
in Cambridge, MA, and South San Francisco, CA (News - Alert). For more information,
please visit www.clarusventures.com.
About Frazier Healthcare Partners Founded in 1991, Frazier
Healthcare Partners has been a leading U.S.-based healthcare-focused
investment firm providing private growth capital to healthcare
companies. The firm has more than $2.9 billion in committed capital
under management and has made investments in more than 170 companies
ranging from early-stage venture investments to growth buyouts of
profitable lower middle market companies. Frazier's experienced team
takes an active approach to helping build portfolio companies,
leveraging their deep domain expertise and expansive network of
healthcare executives, advisors and industry thought leaders. Frazier
Life Sciences Fund and Frazier Healthcare Growth Buyout Fund are the two
vehicles utilized to make investments in early stage life sciences
companies and lower middle market profitable growth buyout companies,
respectively. While these strategies target companies in distinctively
different market segments and stages of development, both investment
teams leverage the firm's rich 25-year history to identify and partner
with exceptional management teams to develop category-leading companies.
Frazier has offices in Seattle, Wash., and Menlo Park, Calif., and
invests broadly across the United States, Canada and Europe. For more
information about Frazier Healthcare Partners, visit the company's
website at http://www.frazierhealthcare.com.
About Novo A/S Novo A/S, a private limited liability company
fully owned by the Novo Nordisk Foundation, is the holding company in
the Novo Group, and responsible for managing the Foundation's assets,
which are currently valued at more than $45 billion. Besides being
the major shareholder in the Novo Group companies, Novo A/S provides
seed and venture capital to development stage companies and takes
significant ownership positions in well-established companies within
life science, as well as manages a broad portfolio of financial assets.
As an international investor they work out of Copenhagen, Boston, San
Francisco and London. Their teams of scientific and commercial experts
actively support their portfolio of projects and companies, and manage a
range of financial investments.
Novo Ventures (US) Inc. is a separate legal entity that provides certain
consultancy services to Novo A/S, mainly within the areas of
identifying, analyzing and negotiating various investment opportunities
among life science and biotech companies in the US as well as certain
follow-up activities related thereto, such as board memberships,
financial control and reporting efforts.
About Eventide Funds Eventide Asset Management, LLC is a
Boston-based Registered Investment Advisor and serves as the Advisor to
Eventide Mutual Funds. Founded in 2008 with a vision to offer high
performance values-based mutual funds to individuals, financial
advisors, and institutions, Eventide has become a leader in faith- based
and socially responsible investing. Eventide is the Advisor to the
Eventide Gilead Fund, the Eventide Healthcare & Life Sciences Fund, and
the Multi-Asset Income Fund. Eventide manages $1.9 billion in net assets.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160404005110/en/
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