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Corus Pharma, Inc. Finalizes Series C Financing Round With An Additional $5 Million


10/19/2005 5:11:24 PM

SEATTLE, May 18 /PRNewswire/ -- Corus Pharma, a Seattle-based biotech and specialty pharmaceutical development company, has completed the final closing on its recently announced Series C preferred stock financing, with an additional $5 million, bringing the total raised on this round to $65 million.

Final investors included Bear Stearns Health Innoventures of New York, Hambrecht & Quist Capital Management, AIG Sun America Ventures, MPM BioEquities, the Carnegie Group, T. Rowe Price Associates, Inc, Kirby Cramer, Corus' Chairman, JP Morgan Partners, Novo A/S, RBC Capital, Burrill & Company, OrbiMed Advisors, MDS Capital, Cascade Investment, Anthem Ventures, Pacific Rim Ventures, Washington Research Foundation, Integra Ventures and WestRiver Capital. Montgomery & Co. LLC, a California-based investment bank, served as exclusive placement agent for Corus on this financing.

The funds from this round of financing will be used for the following purposes: advance clinical Phase II studies for both Corus 1020 (aztreonam formulated for inhalation -- an inhaled antibiotic for the treatment of pseudomonal infections in patients with cystic fibrosis) and Corus 1030 (lidocaine solution for inhalation -- a treatment for oral corticosteroid-dependent asthma); Phase III studies; and for increasing the research and development pipeline.

About Corus Pharma:

Corus Pharma is committed to developing, obtaining regulatory approvals and specialty commercialization of products for respiratory and infectious diseases that can help provide improved health and superior quality of life. More information about Corus Pharma may be found at http://www.coruspharma.com/.

Corus Pharma

CONTACT: Guy Seaton of Corus Pharma, +1-206-792-3031, orgseaton@coruspharma.com; or Leslie Cohan of KNCB Dave, office,+1-206-262-0395, or cell, +1-206-849-1810, or lcohan@kncb.com, for CorusPharma


Read at BioSpace.com

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