scPharmaceuticals, a Lexington, Mass.-based biopharmaceutical company developing pharmaceutical products for subcutaneous delivery, closed a $45.6m Series B funding.
The round was co-led by OrbiMed and a wholly-owned subsidiary of Sun Pharmaceutical Industries Ltd. (Sun Pharma), with participation from existing investors 5AM Ventures and Lundbeckfond Ventures. As a part of the new financing, Mr. Jonathan Silverstein, JD, a Partner and Co-Head of Global Private Equity OrbiMed, and Mr. Abhay Gandhi, CEO of North America at Sun Pharma, will join the scPharmaceuticals Board of Directors.
The company intends to use the funds for the development of the operational and commercial infrastructure to bring its Furoscix™ and the sc2Wear™ Infusor to market in the United States as well as to advance its antibiotic pipeline products.
Led by Pieter Muntendam, MD, founder, president and CEO, scPharmaceuticals is a biopharmaceutical company developing a portfolio of pharmaceutical products for subcutaneous delivery. Based on generic drugs that currently require intravenous or intramuscular injections, innovative products will be administered subcutaneously via a proprietary patch pump.
Lead products are the first subcutaneous formulation of furosemide (the most widely used parenteral diuretic in treating heart failure), and ceftriaxone (the most widely used parenteral antibiotic used outside the hospital setting). The novel furosemide formulation enables convenient anytime anywhere use, for example in an outpatient setting instead of the emergency room or other in-patient settings. For ceftriaxone and other antibiotics, subcutaneous administration eliminates the need for peripherally inserted central catheters, which are associated with serious complications, frequent adverse events and high cost.