Pervasis completes initial closing of $17m round

Pervasis Therapeutics Inc. said that it has completed the initial closing of a $17 million third round of financing.

Headquartered in Cambridge, Pervasis is a clinical stage biotechnology company.

"Participants in the financing included Flagship Venture Partners, Polaris Venture Partners, and Highland Capital Partners, all of which participated in a previous round of financing," Pervasis said in a press release. "In addition, the Richter Family Fund is participating for the first time."

The release added, "The proceeds will be used primarily to support the company’s ongoing clinical development programs, including PVS-10200, a biologically active therapy designed to reestablish healthy vasculature following common interventions to treat peripheral arterial disease (PAD) and potentially other conditions." (Globe Staff)