Corus Pharma Secures $18.5 Million in Private Placement
Investment Community Shows Confidence in Newly Formed Pharmaceutical Company
SEATTLE, June 6 /PRNewswire/ -- Corus Pharma, a Seattle-based pharmaceutical development company has completed an $18.5 million Series A funding. Major investors in this funding round included Burrill & Company, Cascade Investment, JPMorgan Partners and OrbiMed Advisors.
``This first round of external financing allows us to grow Corus Pharma, build our operations, conduct clinical trials and identify and license new pharmaceutical development candidates,'' said Dr. A. Bruce Montgomery, founder and CEO.
Corus Pharma is engaged in building a pharmaceutical company by developing drugs to treat unmet needs in respiratory and infectious diseases. The company's core competencies reside in the identification of drug candidates, rapid clinical development and FDA approval for their products. Corus Pharma has already identified two development programs, one for the treatment of sleep apnea and snoring and the second a treatment for respiratory infections including those found in patients with cystic fibrosis.
``The commitment from Burrill & Company to Corus Pharma is driven by our belief that the company's experienced management team will successfully execute on current and future pharmaceutical development opportunities,'' said Dr. John Kim, Burrill's managing director.
Montgomery is leading the team at Corus, which has successfully worked together in the past. Their significant pharmaceutical and business experiences in building organizations have led to multiple drug approvals. Most recently Montgomery was executive vice president of research and development at PathoGenesis, where he built and led the team that obtained fast-track approval of inhaled tobramycin (TOBI®), an inhaled antibiotic. Corus also has assembled an advisory board consisting of medical, financial and business experts to help operations.
Digital Coast Partners, an investment bank that focuses on private placements, mergers and acquisitions and strategic advisory, represented Corus in this transaction.
Corus Pharma's new headquarters are located at 2025 First Ave., Suite 800, Seattle. Information on Corus Pharma is available at coruspharma.com .
About Corus Pharma
Corus Pharma is a pharmaceutical company committed to developing and obtaining regulatory approvals for infectious diseases and respiratory-related products for improved health and superior quality of life |
