Pearl Therapeutics Raises $15.5 Million in Private... ( REDWOOD CITY Calif. Sept. 6 /- Pe...)

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
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SOURCE Pearl Therapeutics, Inc.
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Pearl Therapeutics Raises $15.5 Million in Private...( REDWOOD CITY Calif. Sept. 6 /- Pe...)