By Lisa Kerner
Charlotte, N.C., July 10 - Ocera Therapeutics, Inc. said it completed a $12 million round of series B financing.
Proceeds will be used to continue clinical development of Ocera's first product, AST-120. The company started a pivotal phase 3 clinical trial for AST-120 for the treatment of fistulizing Crohn's disease in the first quarter of 2006.
New investor Sofinnova Ventures led the round with participation from previous investors Domain Associates LLC and Thomas, McNerney & Partners LLC.
Mike Powell., managing director of Sofinnova Ventures, will join Ocera's board of directors.
San Diego-based Ocera is a biopharmaceutical company focused on the development and commercialization of clinical candidates for the treatment of gastrointestinal and liver diseases.
| Issuer: | Ocera Therapeutics, Inc.
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| Issue: | Series B financing
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| Amount: | $12 million
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| Investors: | Sofinnova Ventures (lead), Domain Associates, LLC, Thomas, McNerney & Partners, LLC
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| Announcement date: | July 10
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