Lithera Announces Second Closing of $27.3 Million Series C

New Post Public Reply Private Reply Replies (0) Message Board
News Desk 2018
Lithera Announces Second Closing of $27.3 Million Series C Financing

SAN DIEGO, July 18, 2013 (GLOBE NEWSWIRE) -- Lithera, Inc. ("Lithera" or "the Company"), a clinical stage pharmaceutical company focused on aesthetic and medical indications, today announced that it has completed a second closing of its Series C preferred stock equity financing, securing an additional $6.7 million in equity capital and bringing the total capital raised in this round to $27.3 million. This tranche was led by existing investor RusnanoMedInvest ("RMI," a subsidiary of RUSNANO), and includes new investors Mirae Asset Venture Investment ("MAVI"), a venture capital arm of Mirae Asset Financial Group ("Mirae Asset," one of the leading financial groups in Korea), and Andrea Holdings International Ltd. Additional undisclosed investors also participated in the financing.

Lithera expects to use the proceeds for general corporate and working capital purposes, primarily to support clinical, regulatory, and manufacturing efforts to advance the Company's lead product candidate, LIPO-202 (Salmeterol Xinafoate for Injection), a novel, physician-administered, injectable pharmaceutical product designed to produce localized non-ablative reduction of subcutaneous abdominal fat.

"Securing this additional financing from high-quality new and existing investors demonstrates confidence in LIPO-202 ahead of our Phase 2 RESET Trial data readout later this summer," said George Mahaffey, President and CEO of Lithera. "We believe the abdominal body contouring market can be greatly expanded with LIPO-202. Physicians and patients desire an injectable product that is safely and quickly administered, provides rapid results, and has minimal impact on lifestyle."

Roberts Mitani, LLC served as advisor to Lithera in connection to the financing.

About Lithera:

Lithera is a clinical stage company developing pharmaceutical and biomedical products addressing both lifestyle and medical indications in aesthetic medicine and ophthalmology. Using FDA-registered drugs approved for use in other indications, Lithera's products target and stimulate natural fat tissue metabolism to achieve non-ablative, non-surgical fat tissue reduction in specific locations. Our lead product candidate, LIPO-202 (Salmeterol Xinafoate for Injection), is a novel injectable pharmaceutical product designed to produce local, selective fat tissue reduction (pharmaceutical lipoplasty). LIPO-202 is currently under development for the aesthetic reduction of subcutaneous fat in the periumbilical area. LIPO-102 (Salmeterol Xinafoate and Fluticasone Propionate for Injection) is currently under development for the treatment of symptomatic exophthalmos (protrusion of the eye from the orbit) associated with thyroid-related eye disease (the thyroid condition is also known as Graves' Disease). Founded in 2007, the Company has assembled an exceptional team of senior executives, employees and advisors and has been financed by top-tier venture capital firms. For more information on Lithera, Inc., please visit www.lithera.com .

Lithera, LIPO-102, LIPO-202 and the Lithera logo are trademarks or registered trademarks of Lithera, Inc. Other names and brands may be claimed as the property of others.

Lithera, Inc.: Susan Knudson Vice President, Finance & Administration 858-750-1008 Investor Relations: Fara Berkowitz Argot Partners 212-600-1902

Scroll down for more posts ▼

Top 10 Most Recent News Articles

Ultrabench Revolutionizes AI Model Comparison Game

Updated Category News Views 3

Breaking Down the Messy AI Model Landscape Ultrabench.ai is here to drag AI model comparison out of the dark ages. Picture this: 309 AI models, ranked against a whopping 530 benchmarks, all served up on one plate. If you’re navigating the AI jungle, you’ll realize how Ultrabench is no small fish in this vast ocean. Consolidating Where Others Have Scattered There's a...

Continue Reading
Managed Connectivity: Key to Modern Multifamily Living

Updated Category News Views 5

Connectivity Runs the Modern Show Imagine moving into a shiny new apartment, where the biggest hassle isn't unpacking boxes but ensuring your gadgets get online smoothly. That's the reality of today's multifamily living, where the internet is more than a utility—it's the backbone of modern life. And if you think it's just about offering internet access, you're missing...

Continue Reading
Cannatrol and Veterans Nonprofit Unite for Healing

Updated Category News Views 3

Veterans Find a New Ally in Cannabis Tech When two distinct worlds collide for a cause, it can create waves of change much bigger than simple collaboration. That's exactly what's happening with Cannatrol and Operation Green Healing, a partnership that could redefine support for our veterans. Cannatrol, renowned for its groundbreaking post-harvest cannabis technology, has...

Continue Reading
Kroger, Imprint Team Up for AI-Driven Mastercard

Updated Category News Views 4

Kroger Teams Up with Imprint for New Credit Card Kroger’s at it again, folks. They're rolling out a shiny new Mastercard, and it's not just any plastic—it’s powered by the AI-driven platform Imprint. Now, what does this mean for you and me? Well, if you're a frequent flyer at Kroger aisles, you might want to pay attention because this card’s offering point...

Continue Reading
Comparent Unveils Key Insights with Top 100 List

Updated Category News Views 5

The Ebb and Flow of Vacation Rental Giants Ever noticed how some industries just sneak up and suddenly transform landscapes? Vacation rental management is one of those sneaky offenders. At the forefront of keeping tabs on this bustling sector, Comparent just dropped a meaty second annual roster—the Comparent 100—showcasing the biggest players flexing their muscles in...

Continue Reading
Athlete Threats: Public Info Fuels Security Risks

Updated Category News Views 3

Public Exposure: The New Athlete Achilles' Heel Imagine sitting on millions while living in a glass house. That's the kind of predicament today's athletes find themselves in, thanks to the treasure trove of public information spilling their personal lives all over the internet. According to the latest Hush Intelligence Athlete Threat Report 2026, this very exposure has...

Continue Reading
Nukleus Launches Unified Platform for Athletes' Business

Updated Category News Views 4

Leveling the Business Field for Athletes Athletes spend their lives fighting for every inch on the field, and now Nukleus is giving them the tools to hold ground off it. Why should they be the last ones to know their own business? Ashton Jeanty and Nukleus got tired of that narrative and kicked off a platform today with a real promise: putting an athlete's entire business...

Continue Reading
Karen Love's Retirement Marks End of an Era for TACHP

Updated Category News Views 4

A Legacy Not Just Built, But Carved in Stone In the world of healthcare, folks like Karen Love don’t come around too often. She's stepping down from her post as President and CEO of Cook Children's Health Plan this month, and it feels like the end of a chapter for the Texas Association of Community Health Plans (TACHP). Love wasn't just an executive; she was a mover and...

Continue Reading
Concrete Pipe: Foundation of Modern Infrastructure

Updated Category News Views 5

Reinforced Concrete Pipes Hold Their Ground You know, it might not be the flashiest part of our infrastructure toolkit, but concrete pipe plays a mighty big role behind the scenes. Even in this age of shiny new tech and constantly evolving materials, the classic concrete pipe still packs a punch—especially when you demand something that'll last. Enter Stephanie Ward, a...

Continue Reading
Hyundai's Record Q3 Sales: SUVs and Hybrids Lead

Updated Category News Views 4

Hyundai's Drive to Record Q3 Sales When talking about market moves, Hyundai's recent figures speak louder than most quarterly bells. September 2026 marked a whirlwind of growth for Hyundai Motor America, reporting record-breaking sales numbers not just for the month, but for Q3 as a whole. With a 9% jump from September last year in total vehicle sales and a remarkable 3%...

Continue Reading
/news?page=2">More News Articles