IntraBiotics Completes $8.3 Million Second Round Private Financing.SUNNYVALE, Calif.--(BUSINESS WIRE)--June 27, 1996--IntraBiotics Pharmaceuticals, Inc., a privately held developer of antimicrobial drugs, today announced the completion of a $8.3 million financing. The second round financing was led by the Sprout Group, with the participation of the company's other previous investors, Brinson Partners and St. Paul Ventures. New investors in IntraBiotics included IASD IASD Indiana Area School District (Pennsylvania) IASD International Academy for Sports Dentistry IASD ion-assisted sputter deposition Health Services health services Managed care The benefits covered under a health contract Corporation, New York Life Insurance Company The New York Life Insurance Company (NYLIC) is the largest mutual life-insurance company in the United States, and one of the largest life insurers in the world.[3] , the Sextant sextant, instrument for measuring the altitude of the sun or another celestial body; such measurements can then be used to determine the observer's geographical position or for other navigational, surveying, or astronomical applications. Group and Singapore Bio-Innovations of America, Inc. Proceeds from this financing will support the continued development of IntraBiotics's portfolio of novel antimicrobial compounds, including the initiation of clinical trials. The company's first drug candidate, IB-367, is for the treatment of oral mucositis, a debilitating de·bil·i·tat·ing adj. Causing a loss of strength or energy. Debilitating Weakening, or reducing the strength of. Mentioned in: Stress Reduction side-effect of cancer therapies. "We are very pleased to receive this continued vote of confidence from our existing investors in IntraBiotics's unique technology and business model, as well as to gain the support of a strong, diversified investor group," said Kenneth J. Kelley, president and chief executive officer of IntraBiotics. "This financing provides the resources we need to initiate and complete our first clinical trials, as well as realize our first corporate partnership." IntraBiotics Pharmaceuticals, Inc., founded in early 1994, is a developer of novel antimicrobial products for the treatment and prevention of serious infectious disease Infectious disease A pathological condition spread among biological species. Infectious diseases, although varied in their effects, are always associated with viruses, bacteria, fungi, protozoa, multicellular parasites and aberrant proteins known as prions. . The company bases its first products on natural antimicrobial substances that are produced as part of the internal host defense systems of animals, including humans and other mammals. CONTACT: IntraBiotics Pharmaceuticals, Inc. Kenneth J. Kelley, 408/991-6400 or J. Kureczka Associates Joan E. Kureczka, 415/821-2413 |
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