Trius Therapeutics Raises $30 Million In Series B For Advancing Clinical Trial Of Antibacterial Drug TR-701 - Update

(RTTNews) - Monday, drug maker Trius Therapeutics, Inc. announced raising about $30 million Series B funding for advancing the clinical trial of oxazolidinone antibacterial drug TR-701, for the treatment of patients with serious Gram-positive bacterial infections, including those caused by MRSA bacteria and other drug-resistant strains.

The drug candidate TR-701 is completing Phase I testing, the company noted. The company also noted that it was accelerating clinical trials and raising funds earlier than planned based on the results of its ongoing Phase I trial, which confirmed potential for once-daily dosing.

Jeffrey Stein, the president and Chief Executive Officer of Trius Therapeutics, stated that the proceeds from the financing would be used to advance the TR-701's clinical trial through Phase II and into Phase III and also for investing in other pre-clinical programs.

The investment was led by Kleiner, Perkins, Caufield and Byers or KPCB, followed by first time investor FinTech Global Capital and other existing investors -- Sofinnova Ventures, Versant Ventures, Interwest Partners and Prism VentureWorks.

Trius Therapeutics further specified that Kleiner Perkins was making its first investment in antibacterial therapeutics from its biodefense and pandemic fund. Following the Series B investment KPCB's partner, Risa Stack, is to join the board of Trius Therapeutics.

For comments and feedback: contact editorial@rttnews.com Copyright(c) 2008 RealTimeTraders.com, Inc. All Rights Reserved

More News:   Market Updates | Stock Alerts | All Trading News | Stock Index