PhotoThera Gets $50M

Carlsbad-based PhotoThera, which is developing laser therapy for the treatment of acute ischemic stroke, said Thursday that it has raised $50M in a Series D round of financing. The round was led by Warburg Pincus, and also included The Vertical Group, Hamilton BioVentures, Delphi Ventures, DeNonov ventures, and individual members of Monterey Advisors, Inc. The firm said the funding will go to a follow-on Phase II clinical study for its products. Alongside the funding, the firm said that Arthur T. Taylor has been appointed its President and CEO, replacing CEO Thomas C. Wilder III. The firm said that Wilder left to "pursue other opportunities." Taylor is the former COO of Kyphon. More information »