Acacia Pharma, a Cambridge, UK-based pharmaceutical company specializing in the development of drugs for supportive care, raised £15m (approximately $23.5m) in Series B financing.
The round was led by Fidelity Biosciences and Novo A/S, with participation from current investors Gilde Healthcare and Lundbeckfond Ventures. In conjunction with the funding, Dr Alex Pasteur of Fidelity Biosciences and Dr Martin Edwards of Novo A/S joined the Board of Acacia Pharma as Non-executive Directors.
The company intends to use the funds to complete Phase III development of APD421 for the prevention of post-operative nausea & vomiting (PONV) and Phase II development of APD403 for the prevention of chemotherapy induced nausea & vomiting (CINV) and develop the commercial presentation of APD515 for the treatment of xerostomia (dry mouth) in advanced cancer patients.
Acacia is led by Dr Julian Gilbert, CEO.