Taris Biomedical raises $18.3M for bladder drug delivery

Taris Biomedical, a drug-delivery company based in Lexington, MA, has raised $18.3 million in Series B financing. The company develops targeted therapies using drug delivery to treat bladder diseases. Taris was profiled as an Emerging Drug Developer by FierceBiotech in 2009. New investor Third Rock Ventures led the round, along with previous investors Flagship Ventures, Flybridge Capital Partners and Polaris Venture Partners.

"This investment will allow us to advance our lead product candidate, Lidocaine Releasing Intravesical System (LiRIS), into later stage clinical development for the treatment of multiple bladder disorders, and to continue to build the rest of our pipeline of novel therapeutics, leveraging common, minimally invasive urological procedures," CEO Sarma Duddu said in a statement.

Taris was born in the labs of MIT's Michael Cima and Robert Langer, who has helped establish a string of biotech companies over the years. Taris is developing a platform of semi-permeable tubes that can be inserted into patients and provide a slow and steady source of therapy.

- read the release from Taris Biomedical