Acton Pharmaceuticals, Inc., a Marlborough, Massachusetts-based respiratory pharmaceutical company, completed a $15m round of financing led by Sequoia Capital.
The company also announced that it has completed a licensing agreement for its FDA-approved AEROSPAN, an inhaled corticosteroid used as a controller medication in the treatment of asthma, from Forest Laboratories, Inc. (NYSE: FRX).
Under the agreement, Acton has assumed the responsibility for development, marketing, and sale of AEROSPAN. The company plans to launch the product into the U.S. market, focusing on promotion to allergists, pulmonologists and other asthma specialists.
Scott Carter, who leads healthcare investing for Sequoia Capital in the U.S., will join the company’s board of directors.