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Infectious disease-focused Iterum Therapeutics Ltd. raised $65mm through its Series B financing led by Arix Bioscience, which was joined by other first-time backers Pivotal bioVenture Partners, Advent Life Sciences, Domain Associates, and Bay City Capital along with returning shareholders Frazier Healthcare Partners, Canaan Partners, Sofinnova Ventures, and New Leaf Venture Partners. The company will use some of the funds for Phase III trials (expected in H1 2018) of its sulopenem antibiotic for uncomplicated urinary tract infections and will also put funds towards production of clinical supplies and registration batches. A representative from Arix, Pivotal, and Advent will join the board.
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