Anacor takes $50M to treat fungal infections
Anacor Pharmaceuticals, a Palo Alto, Calif. firm working on topical treatments for fungal infections in nails, just got a $50 million infusion in a fifth round of funding. This is pretty good news for a company that had to withdraw its IPO filing just two weeks ago due to poor market conditions.
This brings its total capital raised to $87 million, but the recent money is a big jump from the $5 million fourth-round it raised in 2006. It’s gotten a significant boost from partnerships with GlaxoSmithKline and Schering-Plough, both of which just became stockholders. The new funds will be used to push its lead treatment through phase three clinical trials.
Anacor’s other investors include Aberdare Ventures, Care Capital, Rho Capital Partners, Red Abbey Venture Partners and Venrock.
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About the Author, Camille Ricketts
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