After running into some regulatory hurdles, a Raleigh company developing what it hopes will become the “female Viagra” got its feet back underneath itself and is again pressing toward FDA approval with the help of investments of more than $4 million.
Sprout Pharmaceuticals raised $4.3 million of a $15 million round and will use the money predominantly for additional clinical work that company executives agreed to with the U.S. Food and Drug Administration.
The private drug development company had submitted a New Drug Application to the FDA in the summer of 2013, but the regulatory agency did not grant approval. In December, Sprout filed a formal appeal, and announced in February that the FDA gave guidance on what additional tests would be required before submitting a new application.
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