Navigation Links
Anacor Raises $50 Million in Equity Financing
Date:1/6/2009

PALO ALTO, Calif., Jan. 6 /PRNewswire/ -- Anacor Pharmaceuticals today announced that it has raised $50 million through a preferred stock financing with participation from GlaxoSmithKline, Schering Corporation and existing investors including Rho Capital Partners, Venrock Associates, Care Capital and Aberdare Ventures. Proceeds from the financing will be used to further develop Anacor's product pipeline based on its boron chemistry platform.

"We are pleased to complete this financing, which will allow us to advance our five clinical programs and to identify and progress new compounds derived from our boron chemistry platform," said David Perry, Chief Executive Officer at Anacor Pharmaceuticals.

The investments from GSK and Schering Corporation fulfill each company's investment obligations pursuant to their respective and ongoing collaborations with Anacor. At the conclusion of the financing, the combined ownership of GSK and Schering Corporation will be less than 20 percent of Anacor's outstanding shares.

About Anacor Pharmaceuticals

Anacor is a biopharmaceutical company developing novel small molecule therapeutics derived from its boron chemistry platform. Anacor has focused initially on developing topical applications of its compounds to treat fungal, bacterial and inflammatory diseases. Anacor's most advanced product candidate is AN2690, a novel topical antifungal in development for the treatment of toenail onychomycosis, which is a fungal infection of the nail and nail bed. AN2690 is licensed to Schering under a worldwide development and commercialization agreement for all indications including the treatment of onychomycosis. Anacor also has a research and development collaboration with GlaxoSmithKline for the discovery, development, manufacture and worldwide commercialization of novel systemic therapeutics for viral and bacterial diseases utilizing Anacor's boron-based chemistry. For more information visit http://www.anacor.com.

Forward-Looking Statements

This press release contains forward-looking statements, including statements regarding the future use of proceeds and our ability to identify and develop current and future product candidates. These statements relate to future events and involve known and unknown risks, uncertainties and other factors that could cause actual levels of activity, performance or achievement to differ materially from those expressed or implied by these forward-looking statements. Some factors that may affect these forward-looking statements include, but are not limited to, undesirable effects from our product candidates, clinical failure at later stages of development and unexpected termination of existing partnerships. These statements reflect the views of Anacor as of the date of this press release with respect to future events and, except as required by law, it undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise after the date of this press release.


'/>"/>
SOURCE Anacor Pharmaceuticals
Copyright©2009 PR Newswire.
All rights reserved

Related biology technology :

1. Anacor Pharmaceuticals Appoints Dr. Kurt Jarnagin Vice President of Biological Research
2. Anacor to Present Clinical and Preclinical Data on Topical Anti-Inflammatory Candidates, AN2728 and AN2898, at the International Investigative Dermatology 2008 Conference
3. GlaxoSmithKline and Anacor Pharmaceuticals Form Alliance to Develop Systemic Antivirals and Antibiotics Based on Boron Chemistry
4. Anacor Files Registration Statement for Initial Public Offering
5. MichBio Expo Draws Nearly 500 Professionals; Career Day Raises Profile
6. Sensorin Raises Equity Financing to Launch Novel Industrial Sensing Venture
7. Simbionix Raises Largest Amount in Companys History in Venture Capital to Accelerate Growth
8. Vista Partners Updates Coverage on Arana Therapeutics (ASX: AAH; AIM: AAHx), Raises Target Price to AU$1.65
9. Ameristar National Charity Golf Classic Raises More Than $1.1 Million for Buoniconti Fund to Cure Paralysis and Christopher & Dana Reeve Foundation
10. China Sky One Medical, Inc. Raises Guidance for 2008 Revenue and Net Income
11. MacroGenics Raises $25M in Series D-2 Financing
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/27/2016)... (PRWEB) , ... June 27, 2016 , ... ... published their findings on what they believe could be a new and helpful ... the new research. Click here to read it now. , Biomarkers ...
(Date:6/27/2016)... Ginkgo Bioworks , a leading organism design company ... as one of the World Economic Forum,s Technology ... companies. Ginkgo Bioworks is engineering biology to manufacture ... the nutrition, health and consumer goods sectors. The ... Fortune 500 companies to design microbes for their ...
(Date:6/23/2016)... ... June 23, 2016 , ... Mosio, a leader in ... Trials Patient Recruitment and Retention Tips.” Partnering with experienced clinical research professionals, Mosio ... practical tips, tools, and strategies for clinical researchers. , “The landscape of how ...
(Date:6/23/2016)... , June 23, 2016 Houston Methodist ... the Cy-Fair Sports Association to serve as their ... agreement, Houston Methodist Willowbrook will provide sponsorship support, ... connectivity with association coaches, volunteers, athletes and families. ... the Cy-Fair Sports Association and to bring Houston ...
Breaking Biology Technology:
(Date:5/24/2016)... facilitates superior patient care by providing unparalleled technology to leaders of the medical imaging ... product recently added to the range of products distributed by Ampronix. Photo ... ... ... News ...
(Date:5/9/2016)... May 9, 2016 Elevay is ... to expanding freedom for high net worth professionals seeking ... today,s globally connected world, there is still no substitute ... ever duplicate sealing your deal with a firm handshake. ... by taking advantage of citizenship via investment programs like ...
(Date:4/26/2016)... and LONDON , ... Finacle, part of EdgeVerve Systems, a product subsidiary ... Onegini today announced a partnership to integrate the ...      (Logo: http://photos.prnewswire.com/prnh/20151104/283829LOGO ) ... provide their customers enhanced security to access and ...
Breaking Biology News(10 mins):