Zogenix gains $60M in new VC funds

Biotech startup Zogenix, which has offices in Hayward, CA and San Diego, has raised $60 million in venture capital and used part of the money to acquire new technology from Aradigm. Zogenix, which is pursuing new therapies for CNS diseases and pain, also announced its management lineup today. The company's initial focus is the completion of the late-stage development and commercialization of Intraject sumatriptan--a needle-free, single-use, disposable, subcutaneous delivery system that will compete in the $2.5 billion triptan segment of the migraine market.

- here's the release on the startup