Patara raises $26M, starts Phase II studies

Patara Pharma Inc. (San Diego, Calif.) raised $26 million in a series A round and began two Phase II trials of PA101B, an agonist of G protein-coupled receptor 35 ( GPR35) that stabilizes mast cells. The company did not name its investors, and did not respond to inquiries.

Patara said it started a European Phase II study of PA101B to treat patients with refractory chronic cough, including those with idiopathic pulmonary fibrosis (IPF). It also started a two-part, European Phase II study of the molecule to treat indolent systemic mastocytosis. ...