Cardeas Pharma, a developer of therapies to treat bacterial infections, has completed a $34 million Series B round of financing. The round was led by new investor H.I.G. BioVentures and included Novo A/S, Avalon Ventures, Devon Park Bioventures, WRF Capital and Delphi Ventures. The Seattle-based company develops inhaled antibiotics to treat serious, hospital-acquired respiratory infections with highly antibiotic-resistant organisms. The new funds will support Phase 2 development of its lead compound, a potential treatment for healthcare-associated pneumonia in patients on mechanical ventilation.