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Series C results in $46mm for Cempra Pharmaceuticals
Antibiotics developer Cempra Pharmaceuticals closed a $46mm Series C financing round led by Quaker BioVentures, which adds a board member. Other first-time backer Devon Park Bioventures was joined by returning shareholders Aisling Capital, Intersouth Partners, Teachers' Private Capital, and investment banker Wistar Morris III. The money will support ongoing clinical development of CEM101 for community-acquired bacterial pneumonia and CEM102 for gram-positive infections, and to continue preclinical studies on its non-antibacterial macrolide candidates. Cempra had brought in $10mm in a Series B financing; investors that time were Aisling, Intersouth, Mr. Morris, plus the Ontario Teachers' Pension Plan as a new participant.
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