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Xanodyne Pharmaceuticals, Inc. Raises $50 Million in Equity Financing to Support Emerging Product Portfolio
10/30/2009
NEWPORT, Ky., Oct. 29 /PRNewswire/ -- Xanodyne Pharmaceuticals, Inc., an integrated specialty pharmaceutical company with both development and commercial capabilities focused on women's healthcare and pain management, announced today the completion of $50 million in equity financing. The round was led by Longitude Capital with participation from new investors Skandia and Silver Point Capital. Other current investors that participated in the financing include MPM Capital, LLC, AIG Investments' sponsored funds, Perseus-Soros Biopharmaceutical Fund, Blue Chip Venture Company, HealthCare Ventures, LLC, and Union Springs, LLC. Aquilo Partners, L.P., a life science investment bank, acted as the exclusive placement agent for the financing.
Michael J. Valentino, President and CEO commented, "I am extremely pleased to have secured additional financial resources which will be used to support our ongoing development and commercialization strategy for our emerging product portfolio."
In June 2009, Xanodyne received Food and Drug Administration (FDA) approval for Zipsor(TM) (diclofenac potassium) Liquid Filled Capsules, a new treatment option for relief of mild to moderate acute pain in adults (18 years of age or older). Zipsor was launched nationally to physicians and patients in September.
In addition, the company expects FDA action soon on Lysteda(TM) (formerly XP12B), an oral tranexamic acid product under priority review. If approved, Lysteda would be the first and only oral therapeutic agent indicated specifically for the treatment of women suffering from cyclic heavy menstrual bleeding.
Valentino added, "The continued commitment from our investor groups allows us to remain focused on aggressively executing our product commercialization plans and optimizing the other assets in our portfolio."
About Xanodyne
Xanodyne Pharmaceuticals, Inc., which commenced operations in 2001, is an integrated specialty pharmaceutical company with both development and commercial capabilities focused on women's healthcare and pain management. Xanodyne markets a portfolio of products consisting of prescription pharmaceuticals and a line of prenatal vitamins. Additionally, Xanodyne is advancing a late stage pipeline of product candidates targeted at significant potential markets in Xanodyne's focus areas.
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