Neos Therapeutics, Inc., a Grand Prairie, TX-based oral drug delivery company, raised $15.5m in Series C financing.
Backers included Burrill Life Sciences Capital Fund III, CAC LLC, CMEA Capital, Crabtree Partners and Delaware Street Capital.
The company intends to use the funds to obtain FDA approval of its existing product pipeline, and expand the use of the proprietary controlled release technologies to develop additional CR orally disintegrating tablet and CR liquid products.
Led by Vipin K. Garg, Ph.D., Chief Executive Officer, Neos is a specialty pharmaceutical company focused on the development and manufacture of FDA approved drug products that leverage its proprietary delivery technologies. The company’s drug products are being developed using the Dynamic Time Release Suspension® (DTRS®) and Rapidly Disintegrating Ionic Masking™ (RDIM™) technologies that deliver controlled release (CR) small molecule active pharmaceutical ingredients (APIs) in either liquid or orally disintegrating tablet (ODT) dosage forms.
It recently commercialized a generic of Tussionex®, an extended release cough cold product.