Navigation Links
Pearl Therapeutics Raises $15.5 Million in Private Financing
Date:9/6/2007

REDWOOD CITY, Calif., Sept. 6 /PRNewswire/ -- Pearl Therapeutics, Inc., a privately-held company focused on improving the treatment and prevention of widely prevalent respiratory disorders, announced today that the company has raised $15.5 million in its first round of venture capital funding. The financing was co-led by New Leaf Ventures and Clarus Ventures with 5AM Ventures as a major participant. In conjunction with the financing, Kathleen LaPorte, managing director, New Leaf Ventures; Nicholas Simon, managing director, Clarus Ventures; and James W. Young, Ph.D., venture partner, 5AM Ventures, will join Pearl's Board of Directors.

Pearl will deploy these funds to develop innovative products for treatment or prevention of airway diseases in patient populations whose medical needs have not been met by conventional pulmonary drug delivery systems and dosage forms. Pearl has in-licensed a well-developed suite of particle technologies from Nektar Therapeutics which will be leveraged to advance a pipeline of proprietary therapeutics rapidly through development. Nevan Elam, a Nektar senior vice president and head of its Pulmonary Business Unit, has been appointed to Pearl's Board of Directors.

Pearl Therapeutics was co-founded by two former members of Nektar's corporate and product development organizations. Together they bring Pearl more than three decades of experience creating novel pulmonary products. Adrian Smith, president, has led the development and commercialization of technologies and products in the pharmaceutical, medical diagnostic and computer industries for more than 24 years. Starting in 1992 as a one of the first employees of Inhale (now Nektar), he created and directed development of its pulmonary delivery platforms for over a decade in his role as vice president of engineering and technology. More recently until June 2006 he was vice president of corporate development, pulmonary. He drove strategy and planning for Nektar's pulmonary business and championed efforts to apply its technologies to unexplored opportunities. Sarvajna Dwivedi, Ph.D., executive vice president of R&D at Pearl, was most recently director of product development at Nektar. He brings 14 years of extensive pulmonary drug development experience across multiple dosage forms to Pearl, having participated in the inception, development and commercialization of major products in his prior scientific, engineering and management roles at GlaxoWellcome, Dura Pharmaceuticals, Alkermes and Nektar.

"We are very pleased to have received strong support from top-tier and sophisticated biopharmaceutical investors," said Mr. Smith. "These funds will enable us to combine commercially validated particle technologies with the drug delivery, formulation, and product development know-how of the Pearl team to create differentiated products with the potential to broadly and effectively address serious respiratory conditions."

"Pearl Therapeutics incorporates a founding management team with a strong track record of success and expertise in pulmonary drug development including the scale up and commercialization of new products based on proprietary particle technologies. We believe Pearl's products offer the potential for improved treatment of a wider population of patients with chronic respiratory disease," said Dr. Young, executive chairman of the Company, on behalf of the company's investors. "Based on my experience in drug delivery and product development, I am excited to have the opportunity to work with this team and company."

"Adrian and Sarvajna have expert backgrounds in developing pulmonary products and we're pleased that our former colleagues will be exploring new applications with our suite of proven particle technologies," Mr. Elam said.

About Pearl Therapeutics, Inc.

Pearl Therapeutics is focused on developing a pipeline of novel and superior products for chronic respiratory disorders, providing patients with advanced therapeutic options in familiar and well accepted dosage forms. The company has licensed advanced particle technology from Nektar Therapeutics (Nasdaq: NKTR) for developing a series of products in selected therapeutic fields. Founded in 2006, Pearl Therapeutics is privately held, with support from leading investors such as Clarus Ventures, New Leaf Ventures and 5AM Ventures.


'/>"/>
SOURCE Pearl Therapeutics, Inc.
Copyright©2007 PR Newswire.
All rights reserved

Related biology technology :

1. Canadian firm buys Proventiv Therapeutics, makes ex-Bone Care exec CEO
2. TomoTherapy raises $223 million in IPO
3. Fusion 2007: CA chief says IT complexity raises risk
4. Inline intellectual property raises legal issues
5. Biotech with Madison ties raises $21M in capital
6. ConjuGon raises $3.3 million to fund clinical trials
7. Nerites raises $1 million to improve medical tech
8. Brady Corp. raises $137 million in public offering
9. aOva Technologies raises $3 million
10. Bush praises Johnson Controls battery tech in Milwaukee visit
11. Anthropology professors blog raises public interest
Post Your Comments:
*Name:
*Comment:
*Email:
(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   Boston Biomedical , ... compounds designed to target cancer stemness pathways, announced ... granted Orphan Drug Designation from the U.S. Food ... gastric cancer, including gastroesophageal junction (GEJ) cancer. Napabucasin ... to inhibit cancer stemness pathways by targeting STAT3, ...
(Date:6/23/2016)... , June 23, 2016 A person commits a ... crime scene to track the criminal down. An ... Food and Drug Administration (FDA) uses DNA evidence to track ... Sound far-fetched? It,s not. The FDA has increasingly ... support investigations of foodborne illnesses. Put as simply as possible, ...
(Date:6/23/2016)... , ... June 23, 2016 , ... ... YM (Yeast and Mold) microbial test has received AOAC Research Institute approval 061601. ... microbial tests introduced last year,” stated Bob Salter, Vice President of Regulatory and ...
Breaking Biology Technology:
(Date:5/12/2016)... WearablesResearch.com , a brand of Troubadour Research & ... Q1 wave of its quarterly wearables survey. A particular ... a program where they would receive discounts for sharing ... "We were surprised to see that so many ... CEO of Troubadour Research, "primarily because there are segments ...
(Date:4/28/2016)... 2016 First quarter 2016:   ... with the first quarter of 2015 The gross margin ... (loss: 18.8) and the operating margin was 40% (-13) ... Cash flow from operations was SEK 249.9 M (21.2) , ... unchanged, SEK 7,000-8,500 M. The operating margin for 2016 ...
(Date:4/15/2016)... April 15, 2016  A new partnership announced ... accurate underwriting decisions in a fraction of the ... priced and high-value life insurance policies to consumers ... With Force Diagnostics, rapid testing (A1C, Cotinine ... readings (blood pressure, weight, pulse, BMI, and activity ...
Breaking Biology News(10 mins):