Xanodyne Pharmaceuticals raises $50 million in equity financing

Xanodyne Pharmaceuticals, a specialty pharmaceutical firm that develops and sells drugs focused on women’s health care and pain management, has raised $50 million in equity financing. The financing, which came from a range of new and current company investors, will allow the Newport, Ky.,-based company’s offerings to grow. “I am extremely pleased to have secured additional financial resources which will be used to support our ongoing development and commercialization strategy for our emerging product portfolio,” said company President and CEO Michael J. Valentino. Investors include lead investor Longitude Capital, Skandia, Silver Point Capital, MPM Capital, LLC, AIG Investments’ sponsored funds, Perseus-Soros Biopharmaceutical Fund, Blue Chip Venture Company, HealthCare Ventures, LLC, and Union Springs, LLC. “The continued commitment from our investor groups allows us to remain focused on aggressively executing our product commercialization plans and optimizing the other assets in our portfolio,” Valentino said. Xanodyne was founded in 2001, and also has a small office in Basking Ridge, N.J. In September, the company launched FDA-approved Zipsor ™, a new treatment for mild to moderate acute pain in adults. The company is awaiting FDA-action on a second product, Lysteda™, which is under review. It would be the first oral therapeutic product specifically for the treatment of menorrhagia, or heavy menstrual bleeding. Writer: Feoshia HendersonSource: Xanodyne Pharmaceuticals