Xanodyne Raises $50M in Equity Financing to Support Emerging Product Portfolio
Newport, Kentucky-based Xanodyne Pharmaceuticals, Inc., a pharmaceutical company with both development and commercial capabilities focused on women’s healthcare and pain management, completed a $50m in equity financing.
The round was led by Longitude Capital with participation from new investors Skandia and Silver Point Capital. Current investors that participated in the financing include MPM Capital, LLC, AIG Investments’ sponsored funds, Perseus-Soros Biopharmaceutical Fund, Blue Chip Venture Company, HealthCare Ventures, LLC, and Union Springs, LLC.
Aquilo Partners, L.P. acted as the exclusive placement agent for the financing.
As stated by Michael J. Valentino, President and CEO, additional financial resources will be used to support the ongoing development and commercialization strategy for emerging product portfolio.
In September 2009, having received Food and Drug Administration (FDA) approval, the company launched Zipsor (diclofenac potassium) Liquid Filled Capsules, a new treatment option for relief of mild to moderate acute pain in adults (18 years of age or older), to physicians and patients.
In addition, the company expects FDA action soon on Lysteda (formerly XP12B), an oral tranexamic acid product under priority review. If approved, Lysteda would be the first oral therapeutic agent indicated specifically for the treatment of women suffering from cyclic heavy menstrual bleeding.