TransOral gains $40M in financing

TransOral Pharmaceuticals has closed a $40 million Series D financing. Investors included New Enterprise Associates--a new investor--as well as New Leaf Venture Partners, Montreux Equity Partners, InterWest Partners, Hamilton BioVentures, Vivo Ventures and Peninsula Equity Partners. The funding will be used to develop the company's insomnia drug Intermezzo. TransOral expects to file an NDA with the FDA in the second half of 2008.

"We believe Intermezzo will address an important and underserved segment of the insomnia market," said Jake Nunn, New Enterprise Associates Partner. "This investment provides TransOral with the financial strength to file the Intermezzo NDA and we look forward to working with the company to leverage its unique position and create significant shareholder value."

- see the company's release for details

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