GeneriCo, LLC, a St. Louis, MO-based developer of niche generic pharmaceuticals, particularly those having embedded drug delivery technology, closed $1.5M of a $2.0M Series A funding round.
The round, which includes warrant incentives and is expected to be fully funded and closed in Q4 2015, was led by Kinsale Capital Partners, with participation from BioGenerator, Missouri Technology Corporation, as well as accredited investors. In conjunction with the funding, Kevin O’Shea, a Principal of Kinsale Capital Partners, will join the GeneriCo Board.
The company intends to use the funds to expand operations over the next 18 months.
Led by Tom Brya, President and CEO, GeneriCo focuses on the development and marketing of products based on formulations and products having unique drug delivery formats.
Its product pipeline currently includes 22 potential drug formulations and contract distribution rights for several additional drugs.
The company also anticipates raising a Series B round in Q3 2016.