Pearl Therapeutics Gets $69M

Pearl Therapeutics, a Redwood City, CA-based developer of treatments for chronic respiratory diseases, said today it has raised $69 million in a Series C venture financing. The investment was led by Vatera Healthcare Partners, and included Clarus Ventures, New Leaf Ventures and 5AM Ventures. The company plans to use the cash to complete a mid-stage clinical trial of its lead drug candidate, PT003, for chronic obstructive pulmonary disease.

Author: Luke Timmerman

Luke is an award-winning journalist specializing in life sciences. He has served as national biotechnology editor for Xconomy and national biotechnology reporter for Bloomberg News. Luke got started covering life sciences at The Seattle Times, where he was the lead reporter on an investigation of doctors who leaked confidential information about clinical trials to investors. The story won the Scripps Howard National Journalism Award and several other national prizes. Luke holds a bachelor’s degree in journalism from the University of Wisconsin-Madison, and during the 2005-2006 academic year, he was a Knight Science Journalism Fellow at MIT.