Replidyne Inc. received $62 million in funding last week, the largest venture-capital deal for a biotechnology company in Colorado this year.
The Louisville-based company is developing a new antibiotic to treat bronchitis, sinusitis, pneumonia and skin infections.
Eleven companies participated in Replidyne’s fourth round of funding, led by Duquesne Capital Management, Healthcare Investment Partners and MDS Life Sciences Technology Fund.
The company, which has 55 employees, received $46 million in venture capital last year.
“It was a nice step up from the previous round,” said Replidyne president and chief executive Kenneth J. Collins. “We could have raised more than we did.”
Replidyne, founded in 2002, plans to file final paperwork with the U.S. Food and Drug Administration for approval of its leading drug, faropenem, later this year. The company has completed Phase 3 trials of the drug, an antibiotic pill for adults, which it licensed from a Japanese company last year.
FDA approval could come as early as next year, and faropenem could be on the market in late 2006, Collins said.
The company also is planning further research.
“Some of the funds from the financing will be used to conduct trials in pediatric patients,” Collins said. “We will be using some of the other funds to co-promote this product, which will require a large sales force. We are currently in discussions with big pharmaceutical companies.”
Staff writer Kimberly S. Johnson can be reached at 303-820-1088 or kjohnson@denverpost.com.
