Investment
In Neonatal Drug Developer Is Lookout’s 5th In 15 Months
Raleigh, NC—June 5, 2014 Lookout Capital, a
Raleigh, NC-based provider of growth capital and services, announces it has
invested $750,000 in InfaCare Pharmaceutical Corporation, a developer of
proprietary pharmaceuticals for the neonatal and pediatric patient population. InfaCare
is Lookout’s 7th investment overall and the firm’s 5th in
the past 15 months. It is the 2nd
investment made under the Lookout Ventures part of the firm’s platform.“We are excited about having InfaCare as our latest investment,” said W. Merrette Moore, Founder and Managing Director of Lookout Capital, “Through our great connections in the healthcare industry, we were availed the opportunity to invest in this promising company.”
InfaCare is an emerging specialty pharmaceutical company focused on the development and commercialization of proprietary pharmaceuticals for the neonatal and pediatric patient population. InfaCare was founded in 2005, is staffed by seasoned pharmaceutical executives who bring extensive experience of global drug development and commercialization both within large pharmaceutical companies and virtually integrated start up biotech environments. The board of directors includes pharmaceutical executives and investors from top tier venture capital companies, including Atlas Ventures and Longitude Capital.
InfaCare’s lead product, Stanate®, is the only pharmacologic treatment for infantile jaundice, or hyperbilirubinemia (“HB”) currently in development. At present the Company is conducting a multicenter phase 2B clinical study of Stanate® in neonates, which is expected to complete by the end of 2014. Proceeds from Lookout Capital’s investment will help in funding this Phase 2B trial for Stanate®. The investment is part of the company’s $20 million Series C financing.
“We are grateful for the opportunity to invest in and work with InfaCare,” said Walt Clarke, Director of Lookout Ventures and deal lead for the InfaCare investment. “We are confident that InfaCare’s management team will successfully navigate the current trial and take the company to a desirable exit.”
About Lookout Capital: Lookout Capital is a Raleigh, NC-based firm that provides growth and services to companies primarily in the Raleigh-Durham area and throughout North Carolina. The firm addresses a niche historically and currently underserved by the capital markets. Lookout leverages its high caliber network of investors and advisors as well as its unique investment model in establishing the premier growth capital investment management platform in North Carolina.
About InfaCare: InfaCare Pharmaceutical Corp. is a Pennsylvania-based specialty pharmaceutical company dedicated to developing and commercializing therapeutics to treat neonatal diseases. Stanate, InfaCare's lead product is a Heme Oxygenase Inhibitor designed to reduce or eliminate the morbidity and mortality outcomes that can be associated with uncontrolled hyperbilirubinemia in newborns.
For More Information on Lookout Capital: Please visit www.lookoutcapital.com
For More Information of InfaCare: Please visit www.infacare.com
Contact:
W. Merrette Moore
Managing Partner
Lookout Capital
(919) 594-6603
mmoore@lookoutcapital.com
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