Venture Update

Novacta Biosystems raised $21 million from Celtic Pharma Holdings II LP earlier this week. We profiled Novacta back in January and were lukewarm on the antibiotic developer, primarily because of its early stage. Our outlook has now changed and we have more confidence. The funds raised will be used for NVB302, a lantibiotic in development to treat C. difficile. The drug is expected to enter the clinic next year. [BioWorld]

Financings

• NanoBio Corporation says it closed a $22 million Series B after its major shareholder, Perseus, LLC, and Venture Investors, put up an additional $10 million. The cash will be used to advance NanoBio’s herpes labialis, onychomycosis, acne and cystic fibrosis programs as well as towards intranasal vaccines for seasonal influenza and other diseases. The company says it will start a Phase I clinical study in acne this summer and is planning to initiate a phase 3 study in herpes labialis. NanoBio is currently conducting a Phase I clinical study in NB-1008, a seasonal influenza vaccine administered via a nasal dropper. [BusinessWire]

• Finally, Zosano Pharma says it closed a $30 million round of funding led by London-based Nomura Phase4 Ventures,New Enterprise Associates, HBM BioVentures and ProQuest Investments. The funds will go towards Zosano’s Phase 3 clinical development and manufacturing readiness for its PTH rapid delivery patch for the treatment of osteoporosis. [BizJournals]

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