By Jennifer Chiou
New York, Aug. 11 - Mpex Pharmaceuticals, Inc. said it closed on a $32 million private placement of its series B preferred stock.
SV Life Sciences and HBM BioVentures Cayman Ltd/HBM BioCapital LP led investors, which included Aberdare Ventures, Adams Street Partners, Western States Investment Group and Charitable Leadership Foundation.
Previously, the company raised $3.7 million from the sale of common and series A preferred stock.
"We are very pleased to have raised significant capital from a strong syndicate of investors," president and chief executive officer Bill Gerhart said in a news release.
"This capital will enable us to advance our first two candidates through preclinical and early clinical development, as well as attract and support future R&D partnerships."
The company also announced Mike Ross, general partner at SV Life Sciences, Justin Duckworth, investment advisor at HBM Partners AG, and Dan Kisner, general partner at Aberdare Ventures, have joined its board.
Mpex is a San Diego, Calif., biopharmaceutical company focused on the discovery and development of antibacterials for the treatment of life-threatening infections.
The company's most advanced candidate is an aerosol antibacterial being developed to treat patients with cystic fibrosis and those with other serious respiratory infections.
| Issuer: | Mpex Pharmaceuticals, Inc.
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| Issue: | Preferred stock
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| Amount: | $32 million
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| Round: | Series B
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| Investors: | SV Life Sciences, HBM BioVentures Cayman Ltd/HBM BioCapital LP (co-leads); Aberdare Ventures, Adams Street Partners, Western States Investment Group, Charitable Leadership Foundation
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| Announcement date: | Aug. 11
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