Spinifex Pharmaceuticals, a Melbourne, Australia-based pain drug development company, has raised an additional AU$6.25m in an expanded Series B venture capital funding.
Investors include GBS Venture Partners Limited, Brandon Capital Partners Pty Limited, Uniseed Management Pty Limited and UniQuest Pty Limited.
Spinifex previously announced it had raised AU$12m from the same syndicate.
Established in 2005 and led by CEO Tom McCarthy, the company develops new drug candidates for the treatment and management of pain. Its lead product EMA401 is under development as a potential oral treatment for neuropathic pain and related symptoms without CNS side effects.
Spinifex intends to use the funds to develop EMA401, expanding the Phase 2 clinical trial program to a further two indications, including;
– the treatment of pain and hypersensitivity in peripheral nerve injury patients.
– the treatment of pain and hypersensitivity in cancer chemotherapy patients.