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Esperance Pharmaceuticals Completes $7.5 Million Series B Financing
Date:6/1/2011

BATON ROUGE, La., June 1, 2011 /PRNewswire/ -- Esperance Pharmaceuticals, Inc. today announced the first closing of a $7.5 million Series B financing. Proceeds from the Series B will support further clinical development of EP-100, the lead cancer-targeting drug candidate from Esperance's Cationic Lytic Peptide (CLYP™) platform technology and the continued expansion of the Company's pipeline. Sanofi led the Series B funding with an investment of $4.5 million, which includes $1.5 million in clinical and regulatory services to support further development of EP-100. In addition, all existing institutional investors in Esperance -- Louisiana Fund I, Themelios Ventures, Research Corporation Technologies and Advantage Capital Partners/Louisiana Technology Fund -- as well as current and new private investors participated in the syndicate.

"We are extremely pleased to welcome Sanofi as an investor and strategic partner to Esperance and we are grateful for the unanimous, continued support of our current investors," said Hector Alila, PhD, President and CEO of Esperance Pharmaceuticals. "We believe the quality of this syndicate speaks directly to the significant potential of our pipeline and we look forward to being able to deliver on the clinical promise of EP-100 and our CLYP™ platform technology."

"Esperance has made great strides over the last few years building an impressive, proprietary technology platform with broad-based application and bringing forth strong therapeutic candidates to its pipeline," said Joseph F. Lovett, Chairman of the Board of Esperance and Managing General Partner at Louisiana Fund I. "I am pleased to continue to be part of the progress moving forward and I believe the caliber of investors involved in this syndicate, particularly Sanofi, is a significant accomplishment for Esperance and speaks to the strength of the growing biotech community in this reg
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SOURCE Esperance Pharmaceuticals, Inc.
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