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Tranzyme Pharma Closes New $20 Million Financing
RESEARCH TRIANGLE PARK, N.C.
and SHERBROOKE, Québec (November 1, 2007) - Tranzyme
Pharma, a leading biopharmaceutical company developing small
molecule drugs for the treatment of gastrointestinal (GI) and
metabolic diseases, announced today that it has completed a new
round of private financing, raising a total of $20 million. The
financing was led by existing investors H.I.G. Ventures, Thomas,
McNerney & Partners, Quaker BioVentures, and BDC Venture
Capital.
Tranzyme intends to use this funding to further advance clinical
development of its breakthrough GI drugs. Tranzyme’s lead
products are first-in-class drugs directed at modulating ghrelin
and motilin receptors in the GI tract. The Company recently
initiated two Phase IIb clinical trials to test the efficacy and
safety of its first product, TZP-101, an intravenous ghrelin
receptor agonist being investigated for the treatment of severe
gastroparesis and post-operative ileus. In July 2007, the FDA
granted TZP-101 fast-track designation for severe gastroparesis.
Tranzyme’s pipeline also includes TZP-102, an oral ghrelin
agonist for the treatment of mild-to-moderate (chronic)
gastroparesis and other functional GI disorders. In addition,
the Company is developing a motilin antagonist, TZP-201, for
moderate to severe diarrhea, and a ghrelin antagonist, TZP-301
for obesity and metabolic syndrome.
“Tranzyme has made tremendous progress since the last round of
financing in 2005 and all of its investors are extremely excited
by the blockbuster potential of the Company’s mechanism-based
drug candidates,” stated David J. Drutz, M.D., Chairman of
Tranzyme Pharma’s board, and General Partner with Pacific Rim
Ventures, Co., Ltd.
“This round of financing reflects the continued support and
confidence we are so fortunate to have from our investors,”
stated Vipin K. Garg, Ph.D., President and Chief Executive
Officer of Tranzyme. This capital will allow us to bring our
first-in-class GI motility drug, TZP-101, into Phase III
clinical studies for multiple indications.”
About H.I.G. Ventures
H.I.G. Ventures partners with entrepreneurs to provide the
capital, expertise and relationships necessary to build
market-leading businesses. With over $550 million in dedicated
venture and growth capital under management, the firm’s team
invests nationally in early to later-stage information
technology, life science and service businesses. H.I.G. Ventures
is the venture capital affiliate of H.I.G. Capital, a leading
private equity investment firm with over $4 billion of capital
under management. H.I.G. Ventures has offices in Atlanta and
Miami. For more information, visit www.higventures.com.
About Thomas, McNerney & Partners
Thomas, McNerney & Partners, LLC, is a health care private
equity firm that invests in life science and medical technology
companies. The firm's partners have successfully funded
companies at all stages of their development, having invested
over $650 million in more than 52 entities. For more
information, please visit: www.tm-partners.com.
About Quaker BioVentures
Quaker BioVentures manages over $500 million in committed
capital and is a venture capital firm investing only in life
science companies. The firm leads investments in companies
across the spectrum of the life science industry, including
biopharmaceuticals, medical devices, human diagnostics,
specialty pharmaceuticals, and healthcare services. Quaker
BioVentures invests in companies at all stages of development,
from early stage businesses to public companies. For more
information, please visit: www.quakerbio.com.
About BDC Venture Capital
BDC Venture Capital is a major venture capital investor in
Canada, active at every stage of a company's development cycle,
from seed through expansion. Its focus is on technology-based
businesses with high growth potential that are positioned to
become dominant players in their markets. Established in 1975,
BDC Venture Capital has invested in over 400 firms to date. It
currently manages some $500 million in venture capital
investments in the life sciences, telecommunications,
information technology, and advanced technology sectors, as well
as investments in funds. Visit www.bdc.ca for more information.
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