Iterum tests pub­lic mar­ket's ap­petite for an­ti-in­fec­tives in $92M IPO

A year ago, the ex-Du­ra­ta ex­ecs at Iterum Ther­a­peu­tics un­veiled a $65 mil­lion B round and a Phase III game plan for the an­tibi­ot­ic they grabbed from Pfiz­er’s shelf. Now, they are seek­ing $92 mil­lion more in IPO cash to fund the late-stage stud­ies that they hope will get them at the FDA’s doors.

Led by CEO Corey Fish­man and CSO Michael Dunne, Iterum plans to ded­i­cate most of the funds to Phase III tri­als of both oral and IV ver­sions of su­lopen­em, a pen­em β-lac­tam an­tibi­ot­ic. They will fo­cus on three in­di­ca­tions: un­com­pli­cat­ed uri­nary tract in­fec­tions (uU­TI), com­pli­cat­ed uri­nary tract in­fec­tions (cU­TI) and com­pli­cat­ed in­tra-ab­dom­i­nal in­fec­tions (cIAI). If all three gets ini­ti­at­ed lat­er this year as planned, some of the mon­ey will al­so go to Pfiz­er in the form of mile­stone pay­ments.

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