The San Diego-based privately held Ocera Therapeutics Inc. has merged with Research Triangle Park, N.C.-based Tranzyme Pharma, a public company. The combined company, called Ocera Therapeutics Inc., is public and will trade on the Nasdaq Global Market under the symbol OCRX beginning July 16.
Immediately following the closing of the merger, certain of the Ocera investors, including Domain Associates, Thomas McNerney & Partners, Sofinnova Ventures, InterWest Partners, Greenspring Associates, Agechem, CDIB and Wasatch Advisors, invested approximately $20 million in the company through a private placement financing.
Ocera was a privately held biopharmaceutical company founded in 2005. On its website, the company said it has raised $62 million from several life sciences investors, including Thomas McNerney & Partners, Sofinnova Ventures and Montagu Newhall Associates.
The company will focus on developing new treatments for patients with rare liver disorders associated with cirrhosis.
On July 15, the day before the combined company goes public, shares for Tranzyme were trading at 42 cents per share. It had a market capitalization of $13.11 million.
— SDBJ Staff Report