Old Saybrook: Iterum Therapeutics US Limited, of Dublin Ireland is expanding its space and commitment in Old Saybrook. The company has leased 9413 square feet, at 20 Research Parkway. The company currently occupies only 2300 square feet in building, the US director is Corey Fishman.
Iterum is a clinical stage biotech business with offices in Chicago, Dublin, Ireland, and Old Saybrook, they recently raised $65 million in a Series B Financing to support a phase 3 clinical trial for a new anti-biotic to treat urinary tract infections.
The financing was led by new investor Arix Bioscience plc, and included Pivotal bioVenture Partners, Advent Life Sciences, Domain Associates and Bay City Capital. Acording to the company alll of its current investors (Frazier Healthcare Partners, Canaan Partners, Sofinnova Ventures and New Leaf Venture Partners) also participated in the round.
The owner of the complex is Mill Meadow Development, LLC. Kevin Geenty SIOR was the sole agent in this transaction.