Zogenix, Inc., an Emeryville and San Diego, CA-based pharmaceutical company, announced that it has closed a $35m second tranche of a Series B preferred stock financing.
The Series B round was increased from $51m, previously announced in September, to $71m.
The additional $20m investment was made by Chicago Growth Partners, which will now be represented on the Zogenix Board of Directors by Dr. Arda Minocherhomjee.
All existing Zogenix investors including Clarus Ventures, Domain Associates, Scale Venture Partners, Thomas, McNerney & Partners, and Abingworth Management, as well as new investor, Oxford Finance Corporation, contributed to the total $71m Series B.
The funds will be used to support the launch of its SUMAVEL(TM) DosePro(TM) needle-free delivery system, the company’s first product, that will launch in January 2010.