"Iterum has identified a novel product that has demonstrated potent in-vitro activity vs. a wide variety of gram-negative, gram-positive and anaerobic bacteria resistant to other antibiotics," said Heron. "We are excited to partner with the Iterum team to build a leading pharmaceutical company. They have a proven track record of successfully developing and commercializing products across a wide variety of therapeutic areas around the globe and creating substantial value for investors."
Iterum is led by a highly experienced team with more than 50 years of successfully developing products from clinical-stage through commercialization. Most recently, Iterum CEO Fishman and Chief Scientific Officer Dr. Michael Dunne were senior leaders of Durata Therapeutics, a start-up biopharmaceutical company that developed a novel antibiotic for which they obtained U.S. and European approval. Durata was sold to Actavis plc in late 2014.
"We are very proud to have assembled a world-class investor group to support development of our first novel anti-infective compound," said Fishman. "Having successfully collaborated with each of the syndicate members in the past, we appreciate their confidence in our vision to once again build a company that can bring novel therapies to patients and physicians."
Iterum Therapeutics Limited
Iterum Therapeutics Limited is an Ireland-based clinical-stage pharmaceutical company dedicated to developing differentiated anti-infectives. These products are aimed at combatting the global crisis of multi-drug resistant (MDR) pathogens to significantly improve the lives of people affected by serious and life-threatening diseases around the world. Iterum's first product is a novel anti-infective compound that has demonstrated potent in-vitro activity vs. a wide variety of gram-negative, gram-positive and anaerobic bacteria resistant to other antibiotics. For more information on Iterum Therapeutics please visit www.iterumtx.com.
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SOURCE Iterum Therapeutics Limited