Arix leads Iterum's $65M series B

Anti-infective play Iterum Therapeutics Ltd. (Dublin, Ireland) raised $65 million in an oversubscribed series B led by new investor Arix Bioscience plc (LSE:ARIX). New investors Pivotal bioVenture Partners, Advent Life Sciences, Domain Associates and Bay City Capital also participated, as did existing investors Frazier Healthcare Partners, Canaan Partners, Sofinnova Ventures and New Leaf Venture Partners.

In late 2015, Iterum obtained a license to its lead candidate, sulopenem, from Pfizer Inc. (NYSE:PFE) in exchange for an equity stake and an upfront payment. Pfizer is eligible for additional equity, milestones and royalties...