Iterum Therapeutics raises $40m

Also participating in the round were Canaan Partners, Sofinnova Ventures and New Leaf Venture Partners.

Alongside the funding round, the newly launched company also announced that it has licensed global rights to a new anti-infective compound from a multinational pharmaceutical company.

The founding team of Iterum previously led antibiotic company Durata, which developed Dalvance, to its $675m buyout by Allergan (then known as Actavis) in 2014.

Company
Based in Ireland, Iterum is a clinical-stage pharmaceutical company focused on developing anti-infectives. Its products are aimed at tackling multi-drug resistant pathogens. Its first product is a new anti-infective compound, which has shown strong in-vitro activity against a wide variety of gram-negative, gram-positive and anaerobic bacteria resistant to other antibiotics.

People
Iterum Therapeutics - Corey Fishman (CEO).
Frazier Healthcare Partners - Patrick Heron (managing general partner).
Canaan Partners - Brent Ahrens (general partner).
Sofinnova Venture - James Healy (general partner).
New Leaf Venture Partners - Ron Hunt (managing director).

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• Topics
• Early-stage
• UK / Ireland
• Healthcare
• Venture
• Ireland