Acacia Pharma, a Cambridge, UK-based pharmaceutical company specializing in the development of drugs for cancer supportive care, has closed a $10m Series A funding round.
New investor Lundbeckfond Ventures joined Gilde Healthcare.
Acacia Pharma will use the funds to complete Phase II development of its two lead product including APD421 for the prevention of nausea & vomiting in post-surgical patients and APD515 for the treatment of xerostomia (dry mouth) in advanced cancer patients.
In conjunction with the funding, Associate Professor Johan Kordel of Lundbeckfond Ventures will join Acacia Pharma’s Board.
CEO Julian Gilbert, Acacia Pharma Acacia Pharma has generated a pipeline of product opportunities addressing a range of supportive care indications such as nausea & vomiting, xerostomia and cachexia using a commercially driven approach to product discovery based on known drugs. According to the company, this strategy enables quick clinical proof-of concept and commercialization.