Neuromed raises US$25M for clinical development

Guest Contributor
March 16, 2006

Neuromed Pharmaceuticals has raised an additional US$25 million in a series D financing that brings its cumulative venture capital financing to $74 million. The new capital will be used to advance development of its lead compound for the treatment of chronic pain and its second development program for the treatment of anxiety, epilepsy and cardiovascular diseases. Vancouver-based Neuromed is the world's only company with a sole focus on target-specific calcium channel drugs for treating chronic pain. The new financing was provided by several existing investors, including MPM Capital, Neuro Discovery LP, GrowthWorks Capital, BDC Venture Capital, Cogene Biotech Ventures and Royal Bank of Canada. A new investor - James Richardson & Sons Ltd - is also participating. Richardson is one of Canada's oldest and largest private, family-owned companies specializing in late-stage private investments. Neuromed is also changing the name of its Canadian company from Neuromed Technologies Inc to Neuromed Pharmaceuticals Ltd to reflect its evolution from research and discovery to clinical development. Neuromed's previous financing was for $32 million (R$, November 17/03)....


Other News






Events For Leaders in
Science, Tech, Innovation, and Policy


Discuss and learn from those in the know at our virtual and in-person events.



See Upcoming Events










You have 1 free article remaining.
Don't miss out - start your free trial today.

Start your FREE trial    Already a member? Log in






Top

By using this website, you agree to our use of cookies. We use cookies to provide you with a great experience and to help our website run effectively in accordance with our Privacy Policy and Terms of Service.