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Turing Pharmaceuticals Announces $90m Series A Financing
August 10, 2015.
Turing Pharmaceuticals AG (New York, NY and Zug, Switzerland) announced the completion of its Series A financing, which, at $90m, is reported as "one of the largest Series A rounds in biotech history". Martin Shkreli, Turing Founder & Chief Executive Officer, explained that the company intends to invest the proceeds in acquisitions, as well as advancing and accelerating its growing pipeline of novel drug candidates. "We plan to accelerate clinical trials for several treatments and are pleased to announce an immediate addition to our portfolio," he said. That addition is Daraprim (pyrimethamine), which Turing has acquired the rights to market in the U.S. from Impax Laboratories, Inc.
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