Ocera Therapeutics, Inc. and Tranzyme, Inc. have completed their merger. The combined company, called Ocera Therapeutics, Inc., will operate under the leadership of Linda S. Grais, MD, president and chief executive officer. The board of directors consists of representatives from both Ocera and Tranzyme.
 
Following the closing of the merger, certain Ocera investors, including Domain Associates, Thomas McNerney & Partners, Sofinnova Ventures, InterWest Partners, Greenspring Associates, Agechem, CDIB and Wasatch Advisors, invested approximately $20 million in the company through a private placement financing. The company now has approximately 11.3 million shares outstanding.
 
“The closing of this merger represents an important milestone as Ocera joins forces with Tranzyme to develop OCR-002, a differentiated product candidate for orphan liver diseases,” said Dr. Grais. “We look forward to advancing OCR-002, currently in Phase II development, to address a significant unmet need in the treatment of hepatic encephalopathy in patients with decompensated liver cirrhosis.”