Presidio Pharmaceuticals Closes $26 Million Series B Financing

Presidio Pharmaceuticals, Inc, a specialty pharmaceutical company focused on developing and commercializing novel, small molecule compounds for the treatment of HIV-1, HCV and other chronic viral infections, announced recently that it has closed a $26 million Series B financing led by Panorama Capital. Also participating in this round were Baker Brothers Investments, Bay City Capital, Ventures West Capital, Nexus Medical Partners, and several existing Series A shareholders including Sagamore Bioventures, George Rathmann Fund and Peninsula Overview Partners. Concurrent with the financing, Dr. Srinivas Akkaraju, Managing Director of Panorama Capital, Dr. Felix Baker, Managing Member of Baker Bros. Advisors LLC, Dr. Daniel Perez, Venture Partner of Bay City Capital and Kenneth Galbraith, Venture Partner of Ventures West Capital have been appointed to the Presidio Board of Directors, and Dr. John F. (Jack) Obijeski, who has been serving as a special adviser to the company, has joined the Board as an independent director.

The response we have received from the investment community is a great reflection of our seasoned management team and the product portfolio we have assembled, which includes multiple programs that address the continued need for effective and safe medicines in the treatment of HIV, HCV and other viral infections, said Dr. Omar K. Haffar, President and CEO of Presidio Pharmaceuticals. The proceeds of this financing will be used to advance two of our programs into human clinical studies, continue establishing alliances with outside partners, and expand our product portfolio through additional in-licensing transactions. Dr. Haffar went on to say, As we advance our programs into clinical development, Presidio is in a strong position to both improve upon present treatments for patients with anti-viral infections and create substantial value for our investors by leveraging our technology and management expertise.

Panorama is excited about backing a great management team and supporting the development of novel therapeutics to help patients, said Dr. Akkaraju of Panorama Capital. And we look forward to helping to create a sustainable, antiviral therapeutic company with solid, long-term growth potential.

Presidio Pharmaceuticals, Inc is a specialty pharmaceutical company focusing on in-licensing, developing and commercializing novel and validated therapeutics for chronic viral infections, including HIV-1, HCV, and CMV. Presidio Pharmaceuticals was founded in March 2006 with an initial investment from Sagamore Bioventures, a life science venture fund headquartered in San Francisco, CA, as well as from the George Rathmann Family Fund and Peninsula Overview Partners.

For more information, please visit www.presidiopharma.com