Acacia Pharma closes $10 million investment round

Funds to be used to complete two Phase II programmes

04-Apr-2011 - United Kingdom

Acacia Pharma announced it has successfully closed a funding round, raising a total of $10 million. New investor Lundbeckfond Ventures joins Gilde Healthcare in this Series A financing.

Acacia Pharma will use the proceeds to complete Phase II development of its two lead product opportunities, APD421 for the prevention of nausea & vomiting in post-surgical patients and APD515 for the treatment of xerostomia (dry mouth) in advanced cancer patients. As a consequence of the investment, Associate Professor Johan Kördel of Lundbeckfond Ventures will join the Board of Acacia Pharma.

Julian Gilbert, Acacia Pharma’s CEO said, “I am delighted to welcome Lundbeckfond Ventures to the company and thank Gilde Healthcare for their continued support. These new funds allow the company to drive its lead programmes forward to achieve significant clinical milestones as efficiently as possible.”

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