Mallinck­rodt bags late-stage in­fan­tile jaun­dice drug in $425M In­faCare buy­out deal

It’s been more than 10 long years since In­faCare Phar­ma­ceu­ti­cal got rolling with its Se­ries A round, mak­ing slow progress with a lead drug de­signed to treat hy­per­biliru­bine­mia in new­borns. And with a path­way to a pos­si­ble ap­proval fi­nal­ly in view, Mallinck­rodt $MNK is step­ping in to buy the biotech with $80 mil­lion in cash and up to $345 mil­lion in mile­stones.

The spot­light at In­faCare is on stannso­porfin (Stanate), a heme oxy­ge­nase in­hibitor de­signed to pre­vent jaun­dice by in­hibit­ing the for­ma­tion of biliru­bin. Trevose, PA-based In­facare, though, has been a very low-pro­file op­er­a­tion — un­der­scored by word on its web site that it’s been rais­ing a Se­ries C, 9 years af­ter the B round from Health­Care Ven­tures, Lon­gi­tude Cap­i­tal, First­Mark Cap­i­tal and At­las Ven­ture came through.

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