CoLucid Pharmaceuticals, a Durham, North Carolina-based developer of oral lasmiditan that treats migraine headaches, raised $37.1m in Series C funding.
The round was led by TVM Capital Life Science with participation from Novo Ventures, Auriga Partners, Pappas Ventures, Domain Associates, Care Capital, Triathlon Medical Ventures and Pearl Street Ventures. In conjunction with the funding, Dr. Luc Marengere of TVM Capital Life Science and Dr. Martin Edwards of Novo Ventures joined CoLucid’s board of directors.
Led by Thomas P. Mathers, Chief Executive Officer, CoLucid is developing oral lasmiditan for the acute treatment of migraine headache and intravenous Lasmiditan for treatment of headache pain by health care professionals. It intends to use the funds to advance the Phase 3 program for oral Lasmiditan, to include the first pivotal study, COL MIG-301 “SAMURAI”, for the acute treatment of migraine.
To date, CoLucid has completed six clinical studies, including a Phase 2b study treating a single migraine attack in 391 patients, as well as a TQTc study. Phase 3 development will address major unmet medical needs in patients who are poorly served currently by available therapies to include patients with risk factors for cardiovascular disease who may not be able to take triptans.
The company is partnered with ILDONG Pharmaceutical Co, Ltd, under a distribution and supply agreement for Lasmiditan, in South Korea and Southeast Asia.