18 Sep Aridis Pharmaceuticals Raises $6.75 Million in Oversubscribed Private Placements
SAN JOSE, Calif., September 18, 2014, Aridis Pharmaceuticals, Inc., a biopharmaceutical company applying proprietary technologies to produce novel therapies for infectious diseases, announced today the closing of private placements totaling $6.75 million.
In addition to numerous high-net worth individuals, investors included Dr. Nikolaus F. Rentschler, chief executive officer and owner of Rentschler Biotechnologie GmbH, a leading contract manufacturing organization for the development and production of biopharmaceuticals, and an independent not-for-profit cystic fibrosis research laboratory. “I’m absolutely convinced about the success of Aridis because of their excellent range of lifesaving product candidates in a variety of indications, smooth project handling and well-performing management,” stated Dr. Rentschler.
A portion of the proceeds from the financings will be used for completion of the Company’s ongoing Phase 2a clinical trial in Europe for AR-301, an anti-Staphylococcus aureus human monoclonal antibody, for the treatment of acute pneumonia.
This is the first private fundraising conducted by Aridis, which has been funded to date with more than $38 million in grants from a number of leading institutions, including the National Institutes of Health, the Department of Defense and the Department of Health & Human Services.
“We are pleased to announce the successful completion of this financing, and welcome the support of our new investors as well as the additional validation inherent in the participation by an
internationally known company such as Rentschler Biotechnologie,” stated Dr. Vu Truong, chief executive officer of Aridis. “The additional capital complements our existing funding, strengthens our balance sheet, and will enable us to advance clinical development of our lead drug candidate AR-301 and broader pipeline.”
About Aridis Pharmaceuticals, Inc.
Aridis is a privately held biopharmaceutical company applying proprietary monoclonal antibody discovery technology MablgXâ and pharmaceutical formulation technologies to produce novel infectious disease focused therapies. Aridis’ product pipeline includes AR-301 anti-Staphylococcus aureus human monoclonal antibody to treat acute pneumonia; AR-101 anti-Pseudomonas aeruginosa LPS human monoclonal antibody; Panaecin™, a small molecule anti-infective gallium compound with broad spectrum activities against bacteria, viruses, and fungi; Aerucin™, a broadly reactive monoclonal antibody against Pseudomonas aeruginosa initially being developed to treat acute pneumonia; AR- 401 anti-Acinetobacter baumannii human monoclonal antibody; and AR- 201 anti-RSV human monoclonal antibody.
Certain statements in this press release are forward-looking statements that involve a number of risks and uncertainties. Such forward-looking statements include statements relating to the therapeutic applications of AR-301, AR-101, Panaecin™, Aerucin™, AR-401, AR-201, Aridis’ proprietary formulation and delivery technologies, about Aridis’ strategy, pre-clinical and clinical programs, and ability to identify and develop drugs, as well as other statements that are not historical facts. Actual events or results may differ materially from Aridis’ expectations. Factors that could cause actual results to differ materially from the forward-looking statements include, but are not limited to, the timing, success and cost of Aridis’ research and clinical studies and its ability to obtain additional financing. These forward-looking statements represent Aridis’ judgment as of the date of this release. Aridis disclaims any intent or obligation to update these forward-looking statements.
For more information, please contact: Eric J. Patzer, Ph.D.
Founder and Chairman of the Board Aridis Pharmaceuticals, Inc.