PALO ALTO, Calif., Nov. 13, 2013 (GLOBE NEWSWIRE) -- Ocera Therapeutics, Inc. (Nasdaq:OCRX), a biopharmaceutical company focused on innovative therapeutics for orphan liver disease, announced today financial results for the three and nine months ended September 30, 2013.
- completion of the merger between Ocera Therapeutics, Inc., the privately-held company and Tranzyme, Inc. on July 15, 2013, following which the combined company was renamed Ocera Therapeutics, Inc.
- completion of two private placement (PIPE) financings - the first closed on July 15, 2013 in conjunction with the merger and raised $20 million in gross proceeds and the second closed on November 8, 2013 and raised an additional $28 million in gross proceeds
- key addition to the executive team with the hiring of Jeryl L. Hilleman as chief financial officer
- finalization of OCR-002 Phase 2b protocol for acute hepatic encephalopathy in 200 patients, and initiation of clinical trial activities preparing for first patient enrollment
- approval and initiation of a restructuring plan for our Canadian operations to enable the company to focus its resources on the clinical development of OCR-002.