infirst Healthcare, a consumer healthcare company, raised £25m in financing from Invesco Asset Management managed funds.
The company intends to use the funds for the launch of its medicines into the cough & cold and pain consumer healthcare markets.
Spun out from SEEK Group and led by CEO Manfred Scheske, Infirst will launch its first product, a cocoa-flavoured cough liquid, in Europe. The company is also developing a non-narcotic/non-opioid cough treatment which is in a Phase III clinical study, targeted for a 2015 market launch. The North American rights to infirst’s cough related IP have been out-licensed to NASDAQ listed US company Pernix Therapeutics Holdings, Inc.
infirst is also developing an ibuprofen-based product for the treatment of inflammatory pain, to which it has the global rights.