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Watertown biotechnology firm Tetraphase Pharmaceuticals Inc. has closed on a $45 million Series C round of financing led by Excel Venture Management. Return backers CMEA Ventures, Flagship Ventures, Fidelity Biosciences, Mediphase Venture Partners and Skyline Ventures also participated in the round.
As part of the funding round, Excel Venture Management managing director Steve Gullans will join the board of directors at Tetraphase.
Tetraphase develops antibiotic drug candidates for drug-resistant infection treatments using synthetic chemistry. The company noted in a press release today that it plans to use the funding to move its antibiotic products into Phase 1 and Phase 2 clinical studies. Currently, Tetraphase expects to move its lead drug candidate, an intraveneous antibiotic called TP-434 to address Gram-negative infections, into Phase 2 studies this year. It also expects to move to clinical studies to IV/oral antibiotics – one to address complicated urinary tract infections and one to treat community acquired bacterial pneumonia.
Tetraphase’s founding team includes David Lubner, chief operating officer, formerly of IMS Health/PharMetrics and ProScript; board director Lawrence Miller, a partner at Mediphase Venture Partners; Doug Cole of Flagship Ventures; Eric Gordon, Mediphase and Skyline Ventures, among others. The company was founded in 2006.
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