Taris Biomedical, a Lexington-based pharmaceutical company focused on developing new treatments for bladder diseases, announced Tuesday that it has raised an additional $12.5 million in financing.
The round included existing investors Flagship Ventures, Flybridge Capital Partners, Polaris Partners, and Third Rock Ventures. With this round, Taris has now raised $49.8 million to date, the company said in a press release.
‘‘This financing round enables continued clinical advancement of our lead product candidate, LiRIS (Lidocaine Releasing Intravesical System), in patients with interstitial cystitis and further confirms our commitment to finding effective treatments for this debilitating disease,” Taris president and chief executive Purnanand Sarma said in a statement.
In a separate release issued today, Taris announced the dosing of its first patient in its second randomized, placebo controlled Phase 2 study of LiRIS in interstitial cystitis.
Besides iterstitial cystitis, Taris is developing a pipeline of targeted therapies designed to treat a variety of bladder diseases, such as bladder cancer and urinary incontinence.