InfaCare raises $28 million for neonatal drug development
This article was originally published in Scrip
InfaCare Pharmaceuticals has secured $28 million to advance the development its Stanate (stannsoporfin), its product for neonatal hyperbilirubinaemia. The compound is expected to enter a Phase III trial in 2009 and is the only drug in development to prevent bilirubin from reaching toxic levels in haemolysing neonates, the company says. The product inhibits haem oxygenase, an enzyme involved in bilirubin formation, and is designed to reduce the neurological risks associated with uncontrolled hyperbilirubinaemia. The series B round was led by HealthCare Ventures and Longitude Capital, which will each have a partner on InfaCare's board.