Mpex Pharmaceutical Finds $32M Series B

San Diego-based Mpex Pharmaceuticals has raised a $32M Series B venture round of funding. Funding came from SV Life Sciences, HBM BioVentures, Aberdare Ventures, Adams Street Partners, as well as previous investors Western States Investment Group and Charitable Leadership Foundation. The company also said that it had raised $3.7M in an earlier Series A venture round. The company is developing biopharmaceuticals focused on small molecule drugs that can be used as antibacterials. The company's leading drug candidate is an aerosol antibiotic for the treatment of cystic fibrosis. More information »