August 28, 2006 -- Zogenix announced it raised $60 million in an A round of financing, reporting also it would spend $4 million as an upfront payment to Aradigm for their Intraject(R) sumatriptan product, a needle-free, single-use, disposable device that delivers sumatriptan subcutaneously to migraine patients. Zogenix was recently merged with SJ/2, a spinoff from Aradigm. Zogenix will perform the necessary work to win approval, and it plans to build a sales force to market the product itself. The company plans to seek uses for Intraject beyond sumatriptan. More details...
