Aisling Capital Reduces Stake in Cempra Inc (CEMP)

Dennis Purcell‘s Aisling Capital recently filed an amended 13D with the SEC disclosing a reduced stake in Cempra Inc (NASDAQ:CEMP). According to the filing, Aisling Capital now owns 2.23 million shares which includes 39,218 shares of common stock issuable upon the exercise of preferred share purchase warrants expiring on August 5, 2018. This represents 5.1% of the outstanding common stock of Cempra. The latest filing represents a slight decrease to Aisling’s position, which held 3.29 million shares of Cempra at the end of the first quarter. Aisling’s investment in Cempra dates all the way back to 2006.

Cempra Inc (NASDAQ:CEMP) is a drug discovery and development company focused on infectious diseases and the treatment of drug-resistant bacteria. The company’s lead product is Solithromycin (CEM-101) which is for the treatment of community-acquired bacterial pneumonia (CABP). Solithromycin is active against many key CABP pathogens as well as against pneumococcal strains resistant to other macrolides. The product is in Phase III clinical trials. Cempra Inc (NASDAQ:CEMP)’s Taksta is an antibiotic used for the long term oral treatment of prosthetic joint infections (PJI), caused by staphylococci, including S. aureus and methicillin-resistant Staphylococcus aureus (MRSA). Taksta has completed its Phase II clinical trials.

Aisling Capital is an early stage investment fund with a focus on healthcare. It has about $1.6 billion in assets under management and was founded by Purcell.  Prior to Aisling, Purcell served as Managing Director of the Life Sciences Investment Banking Group at Chase H&Q for over five years. Prior to H&Q, Purcell was a Managing Director in the Healthcare Group at PaineWebber. Purcell has an MBA from Harvard University and a BS in accounting from the University of Delaware.

Disclosure: None