Monday, July 7, 2008

Clarus adds to Pearl’s Series A luster

By Mass High Tech Staff

Cambridge-based venture capital firm Clarus Venures has invested in $18 million dollar financing of Pearl Therapeutics Inc., a California-based biopharmaceutical company developing products for major respiratory diseases.

According to Pearl officials, the new funding is an extension of its Series A round of venture financing, which closed in May 2007. In addition to Clarus, 5AM Ventures of Waltham and California, New Leaf Ventures of New York and California biopharmaceutical firm Nektar Therapeutics participated in the financing.

Pearl, founded in 2006, has raised $36.4 million of venture and other funding to date, according to officials.

Nektar Therapeutics has licensed advanced particle technology to Pearl, and the company it is using to develop technology that will give patients and their health care providers a choice of formulations and dosage strengths of respiratory treatments.