ConjuGon Raises $3.3 Million
12/13/2006
Madison, WI—ConjuGon, Inc., a privately-held biopharmaceutical company focused on developing novel therapies for the treatment of antibiotic resistant bacterial infections, today announced it has raised a $3.3 million investment round. Rosetta Partners, a biotechnology investment group, led the financing with additional investment by the Wisconsin Investment Partners, an organized angel group.
"We are very pleased to secure this financing," said Sal Braico, Chief Operating Officer of ConjuGon. "Enthusiasm by our current and new investors highlights the significance of the problem of antibiotic resistance and the potential of the therapeutics we have in development to tackle this problem."
ConjuGon will use this capital to advance its lead therapeutic, a treatment for the infections of large wounds, into clinical trials and to fund the development and testing of additional therapeutics to combat antibiotic-resistant bacterial infections.
“ConjuGon’s novel antibacterial technology has performed beyond expectations to date in the animal tests that have been conducted,” added Gary Greenwood, a Partner of Rosetta Partners and the new chairman of ConjuGon’s board of directors. “I look forward to helping the team at ConjuGon advance these important therapeutics and to continue to build a great company.”
New Board Members
ConjuGon also announced the following will join ConjuGon co-founder Richard Burgess on the Board of Directors:
- Gary Greenwood – a Partner of Rosetta Partners LLC
- Anthony J. Clemento, Jr. – Former executive at Covance, Seragen, Bristol-Myers, Schering-Plough, and Centocor
- Alicia Loffler – Director of the Kellogg Center for Biotechnology at Northwestern University
- Tom Rolfs – Member of the Wisconsin Investment Partners and a partner of Red Top Capital
- Carl Spalding – Past President and Chief Operating Officer of PAREXEL, a global contract research organization and biopharmaceutical outsourcing company
About Rosetta Partners
Rosetta Partners LLC is a private investment firm focused exclusively on biotechnology investments. In addition to select private equity commitments, Rosetta manages an investment fund of publicly traded biotechnology companies for qualified institutional and individual investors. Rosetta Partners LLC is located in Lake Forest, Illinois.
About ConjuGon
ConjuGon is developing fundamentally new therapeutics to combat the growing epidemic of antibiotic-resistant bacteria. Antibiotic resistance is a medical crisis, globally responsible for hundreds of thousands of deaths each year. ConjuGon’s core technology is a new way to kill unwanted and even multi-drug resistant bacteria. The company is located in the MG&E Innovation Center in the University Research Park in Madison, WI.
###
