Cardeas Pharma Snags $34 Million for Antibiotic Against Hospital Infections
5/23/2013 7:56:50 AM
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Seattle-based Cardeas Pharma just raised a lot more cash to fight a big problem that hospitals wrestle with every day, and which they’d rather not say much about publicly. Cardeas, the startup led by prolific drug developer Bruce Montgomery, has raised the healthy sum of $34 million in its Series B venture financing, Xconomy has learned. New investor H.I.G BioVentures led the round, and was joined by existing investors Avalon Ventures, Novo A/S, Devon Park Bioventures, WRF Capital, as well as new investor Delphi Ventures. The company has now raised a total of $46.5 million for its drug development plan since it scraped together its first $1 million in February 2011. This latest round is the biggest financing for a Seattle-area biotech since Alder Biopharmaceuticals pulled in $38 million in April 2012.
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