Arbor Pharmaceuticals, an Atlanta, GA-based specialty pharmaceutical company, completed a $34.8m financing.
This included a $17.5m investment in the form of Series B Preferred Stock led by Signet Healthcare Partners, LLC. The remainder of the financing was provided in the form of a term loan by several of the investing parties. Also participating in both the Series B equity investment and the loan were existing Arbor shareholders, JW Asset Management, LLC and ARCH Healthcare Fund.
Commenting on the transactions, Ed Schutter, President and CEO of Arbor, said: “We have already completed several product license or acquisition agreements in the six months since the acquisition of Arbor by our original investment team and expect to use this funding to acquire other products”.
The company is currently focused on the growing pediatric market. It intends to actively license, develop and commercialize late-stage products for specialty focused conditions.