Edge Therapeutics, Inc., a New Providence, NJ-based clinical-stage biopharmaceutical company, raised $18m in a Series C financing.
Backers were not disclosed. It is known that Maxim Group LLC was the sole placement agent and financial advisor for the offering.
Led by Brian Leuthner, President and CEO, Edge Therapeutics focuses on developing and commercializing life-saving hospital products for acute, fatal or debilitating conditions after brain hemorrhage that have no current effective treatment.
The company intends to use the capital to fund a Phase 2 study of its lead product candidate, EG-1962 (nimodipine microparticles), for the prevention of delayed cerebral ischemia (DCI), a life-threatening complication of subarachnoid hemorrhage (SAH) and to advance EG-1964, its second product candidate, currently in early-stage development for the treatment of chronic subdural hematoma, another potentially lethal type of brain hemorrhage.