Wednesday, 22. May 2013

Cardeas Pharma Completes $34 Million in Series B Financing

Proceeds Will Continue to Advance Clinical Development of Innovative Therapies to Combat Multi-Drug Resistant Bacterial Infections

Seattle, May 22, 2013 - Cardeas Pharma Corporation, a biopharmaceutical company focused on the development of innovative therapies for the treatment of multi-drug resistant (MDR) bacterial infections, announced today the completion of a $34 million Series B round of financing.  The round was led by new investor H.I.G. BioVentures, LLC, and also included existing investors Novo A/S, Avalon Ventures, Devon Park Bioventures and WRF Capital (Washington Research Foundation), as well as additional new investor Delphi Ventures.  Aaron Davidson, Managing Director of H.I.G. BioVentures, will join the Cardeas Board of Directors.