March 26, 2007 — Affinium Pharmaceuticals, Inc., a Toronto-based developer of a novel class of oral antibacterial therapeutics announces the closing of its US$18 million Series A financing. Affinium will use the proceeds from the financing to fund development of its lead candidate through Phase 2 clinical trials. The international financing was led by Forward Ventures and includes new investors Oxford Bioscience Partners, SV Life Sciences, and existing investor Genesys Capital Partners.
Affinium is focused on the clinical development of antibacterials. Its lead development program encompasses a potent, orally available, novel antibiotic class for the treatment of antibiotic resistant staphylococcal infections.