Trius Therapeutics, Inc. announced the close of a $30 million Series B financing to advance the clinical development of its best-in-class oxazolidinone antibacterial drug TR-701, now completing Phase I testing. The financing was led by Kleiner, Perkins, Caufield and Byers (KPCB).
New investor FinTech Global Capital participated in the round, along with all existing investors -- Sofinnova Ventures, Versant Ventures, Interwest Partners and Prism VentureWorks.
"The excellent results from our ongoing Phase I trial, including data confirming the potential for once-daily dosing, prompted us to raise this round of financing earlier than initially planned to accelerate the clinical development of TR-701," stated Jeffrey Stein, Ph.D., President and CEO of Trius Therapeutics. "We are encouraged that KPCB has recognized our potential and joined our strong investor group. The proceeds from this financing will enable Trius to advance TR-701 through Phase II and into Phase III development, and to continue to invest in our pre-clinical programs."
In connection with the Series B investment, KPCB partner Risa Stack, Ph.D. will join the Trius board. "Trius represents our first investment in an antibacterial therapeutics company out of our Biodefense and Pandemic Fund" said Dr. Stack. "It signifies not only our confidence in the Trius programs and management, but also our concern over the growing unmet need for effective new antibacterial therapies." -- Trius Therapeutics, Inc.
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