San Diego-based Victory Pharma has raised $45 million in equity financing in a round led by Essex Woodlands Health Ventures. Existing investor Ampersand Ventures also participated. Proceeds will be used to support future growth initiatives, including product acquisitions. Victory develops medicines to treat pain and related conditions.
"Essex is excited to invest in such an experienced and successful management team which has demonstrated an ability to execute commercially with the Company's lead product Naprelan and at prior companies. Victory is a rapidly growing, profitable business that we see as an excellent growth equity platform upon which to build a substantial specialty pharmaceutical company," said Scott Barry, Essex Partner. Barry joined Victory's board of directors as part of the deal.
- here's Victory's release
ALSO: Boston's Surface Logix today rounded up over $20 million in a combined equity and debt financing. The company raised approximately $15 million through equity contributions by new and existing investors. On top of the equity round, $5 million was raised through a venture loan from Silicon Valley Bank. Surface Logix plans to complete Phase IIb studies for SLx-4090 in dyslipidemia, diabetes and obesity; formulate SLx-2101 for Phase 2II trials in hypertension; complete first-in-human studies for SLx-2119; advance two programs targeting metabolic disorders into development; and start Phase IIb trial to test the lipid-lowering effects of SLx-4090 in 135 patients with dyslipidemia. Release