CoLucid garners $25M in Series B money

CoLucid Pharmaceuticals says it has rounded up $25 million in Series B financing. New investor Care Capital led the round, which included previous investors Pappas Ventures, Domain Associates, Pearl Street Venture Funds and Triathlon Medical Ventures. The financing will be used to develop COL-144, a migraine compound, and to advance preclinical pipeline candidates that target neurological and psychiatric disorders.

"COL-144 is the first in a new class of migraine therapeutics and represents a paradigm shift in the treatment of migraine," said James White, Ph.D., President and CEO of CoLucid.

- check out CoLucid's release

ALSO: Ibis Biosciences, a unit of Isis Pharmaceuticals, has gained an additional $20 million investment from Abbott Laboratories. Ibis release

Related Articles:
In VC market, life sciences dominate
Top 20 VC deals of 2007
Do VC groups love the Web more than biotech?
E&Y forecasts new wave of biotech deal-making