Boston-based upstart Solace Pharmaceuticals has pocketed $15 million in its first round of venture capital and named Dr. Eliot Forster as its new CEO. Solace is developing therapies to treat chronic pain. Until recently, Dr. Forster had been Pfizer's head of development for Europe and Asia. Solace was founded in March 2006 by PureTech Ventures and a group of pain experts including Dr. Allan Basbaum, professor and chair of anatomy at the University of California, San Francisco and Editor-in-Chief of the journal Pain. Polaris Venture Partners and InterWest Partners co-led the round, existing investors and founders PureTech Ventures also participated.
- check out the release on the first round