Anadys Raises $38.3 Million in Series C Financing.Business Editors/Health & Medical Writers BIOWIRE2K SAN DIEGO--(BW HealthWire)--July 25, 2002 Anadys Pharmaceuticals, Inc. ("Anadys") announced today that it has raised $38.3 million through a private placement of Series C Preferred Stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. . Anadys is a biopharmaceutical company focused on the discovery, development, and eventual commercialization of novel small molecule therapeutics to combat bacterial and viral infections. The round was led by Care Capital LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control with a strong syndicate of existing and new investors, including: Advent International, Atlas Ventures, Chinese Development Investment Bank, Coastview Capital, HBM HBM Human Body Model HBM Human Brain Mapping HBM Hottinger Baldwin Messtechnik GmbH (German company) HBM High Bone Mass HBM Hybrid Bilayer Membrane HBM Humming Bird Medal HBM Her/His Britannic Majesty BioVentures, International BioMedicine biomedicine /bio·med·i·cine/ (bi?o-med´i-sin) clinical medicine based on the principles of the natural sciences (biology, biochemistry, etc.).biomed´ical bi·o·med·i·cine n. 1. Holdings (advised by Global BioMedical bi·o·med·i·cal adj. 1. Of or relating to biomedicine. 2. Of, relating to, or involving biological, medical, and physical sciences. Partners), Lotus Biosciences, SG Asset Management, SG Capital Partners, Sete S.A., Venrock Associates and others. SG Cowen acted as the placement agent with Bear Stearns as a co-manager. "This funding will allow us to continue to use our powerful drug discovery capabilities to advance a steady stream of novel anti-infective drug candidates into the clinic, starting with our lead Hepatitis C Hepatitis C Definition Hepatitis C is a form of liver inflammation that causes primarily a long-lasting (chronic) disease. Acute (newly developed) hepatitis C is rarely observed as the early disease is generally quite mild. and antibacterial antibacterial /an·ti·bac·te·ri·al/ (-bak-ter´e-al) destroying or suppressing growth or reproduction of bacteria; also, an agent that does this. an·ti·bac·te·ri·al adj. programs. We view the sophistication so·phis·ti·cate v. so·phis·ti·cat·ed, so·phis·ti·cat·ing, so·phis·ti·cates v.tr. 1. To cause to become less natural, especially to make less naive and more worldly. 2. of the syndicate as a compelling validation for this vision as well as the company's technology, programs and management," said Kleanthis G. Xanthopoulos Ph.D., President and Chief Executive Officer of Anadys. "The strong financing syndicate reflects Anadys' demonstrated ability to advance its programs and build value in the organization," said Jason Fisherman, M.D., Managing Director at Advent International and Chairman of the Anadys Board of Directors. "We are confident that Anadys will realize its vision of creating novel anti-infective medicines." "Anadys combines world-class biology and chemistry in a powerful and unique drug discovery and development platform which is generating a compelling pipeline of compounds. We are excited that Anadys will be the first investment in Care Capital Investments II," said Jerry Karabelas, Ph.D., Partner of Care Capital and recently elected member of the Anadys Board of Directors. About Anadys Pharmaceuticals, Inc. Anadys Pharmaceuticals, Inc. (www.anadyspharma.com) discovers and develops novel small molecule therapeutics to combat bacterial and viral infections. The Company unites world-class experts and discovery technologies in biology and chemistry from target identification through clinical trials. The Company has the ability to pursue traditional protein targets as well as underexploited targets including RNA RNA: see nucleic acid. RNA in full ribonucleic acid One of the two main types of nucleic acid (the other being DNA), which functions in cellular protein synthesis in all living cells and replaces DNA as the carrier of genetic and proteins of unknown function. Anadys intends to harness its powerful research and development engine to propel a continual pipeline of novel drug candidates into the clinic on its own and through corporate partnerships. About Care Capital LLC Care Capital LLC (www.carecapital.com) is an investment firm focusing on opportunities in life sciences, particularly companies involved in pharmaceuticals, biotechnology and emerging science and information technology serving the life sciences industry. |
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