LOUISVILLE, Colo., Sept. 8 /PRNewswire/ -- Replidyne, Inc., a privately
held biopharmaceutical company focused on the discovery and development of new
anti-infective drugs, announced today that it has raised $62.5 million in a
Series D financing led by several large institutional investors, including new
investors Duquesne Capital Management, Healthcare Investment Partners and MDS
Life Sciences Technology II funds (served by MDS Capital Corp.). Also
participating in this financing round were existing investors HealthCare
Ventures, TPG Ventures, Morgenthaler Ventures, Perseus-Soros BioPharmaceutical
Fund, Sequel Venture Partners, Temasek Holdings Pte Ltd and Quintiles
Transnational. Aquilo Partners, Inc. served as the exclusive placement agent
Additionally, the Company announced that Henry Wendt, Founder and Managing
Partner of Healthcare Investment Partners and former Chairman and Chief
Executive Officer of SmithKline Beckman prior to its merger with Beecham, has
joined Replidyne's Board of Directors.
"The strong interest from such high-quality investors validates our
confidence in the potential of our lead product candidate, faropenem
medoxomil, and the ability of a superb team to drive the product to approval
and commercialization," said Kenneth J. Collins, Replidyne's President and
Chief Executive Officer. "The proceeds from this offering are expected to
carry us through the launch of faropenem for respiratory tract infections and
will also allow us to move REP8839, a topical antibiotic being developed to
treat infections caused by antibiotic-resistant bacteria such as MRSA, into
clinical trials. We are pleased with the enthusiasm of our new investors as
well as with the commitment shown to the Company by our existing investors.
Additionally, we are excited that Henry Wendt will join our Board of
Directors. Henry is one of the most experienced and respected pharmaceutical
executives in the country and we will benefit greatly from his broad industry
Replidyne's lead product, faropenem medoxomil, is an orally available
antibiotic for treatment of community acquired infections such as respiratory
tract infections (RTIs). Replidyne expects to file a New Drug Application
(NDA) in multiple indications for faropenem in late 2005 and, if approved by
the FDA, to launch the product in late 2006. Faropenem has been tested for
safety and efficacy in nine pivotal Phase III clinical trials against RTIs in
more than 3,400 patients. If approved, faropenem would be the first oral
antibiotic of the penem class to be marketed in the United States. Penems are
a sub-class of beta-lactams, the most widely prescribed class of antibiotics.
Replidyne is also developing the product for additional adult and pediatric
About Replidyne, Inc.
Replidyne is a biopharmaceutical company focused on developing and
commercializing innovative anti-infective products. In addition to
preparations for an NDA for faropenem, Replidyne's current development
programs include higher dose/shorter course faropenem, additional adult and
pediatric indications for faropenem, and topical applications of REP8839.
Replidyne also maintains a research team focused on developing additional drug
candidates, including a preclinical program directed to inhibitors of
bacterial DNA replication. For additional information about Replidyne, please
SOURCE Replidyne, Inc.