Navigation Links
Zogenix Increases Series B Preferred Stock Financing to $71 Million, Raising $35 Million in Second Tranche

SAN DIEGO, Dec. 7, /PRNewswire/ -- Zogenix, Inc. ("Zogenix"), a privately held pharmaceutical company, announced today that it has closed a $35 million second tranche of a Series B preferred stock financing. The Series B round was increased from $51 million, previously announced in September, to $71 million. The additional $20 million investment was made by Chicago Growth Partners, which will now be represented on the Zogenix Board of Directors by Dr. Arda Minocherhomjee. All existing Zogenix investors including Clarus Ventures, Domain Associates, Scale Venture Partners, Thomas, McNerney & Partners, and Abingworth Management, as well as new investor, Oxford Finance Corporation, contributed to the total $71 million Series B.

The capital primarily will be used to fully support the launch of SUMAVEL(TM) DosePro(TM) (sumatriptan injection) needle-free delivery system, the company's first product, that will launch in January 2010. Zogenix is also advancing its product pipeline and is actively engaged in efforts to out-license the unique, needle-free DosePro technology to other biopharmaceutical companies.

"Zogenix has developed an innovative product by incorporating a needle-free delivery system, which potentially could also be used for a variety of pharmaceuticals," said Dr. Minorcherhomjee. "The company has a strong management team and board, and is well positioned to capture share in select market segments."

"We are very pleased to welcome Chicago Growth Partners to our investor group and also very fortunate to have the continued support from all of our existing investors," said Roger Hawley, CEO, Zogenix. "Our dedicated Zogenix team is on track with all aspects of our commercial plan, including building our sales force. Zogenix will be fully prepared for our first launch in January. These are exciting times, and I'm proud of our team's accomplishments."

About DosePro technology

The DosePro technology is an easy-to-use, pre-filled drug delivery system designed to enable self-administration of single doses of liquid drug formulations, subcutaneously, without a needle. The DosePro technology has undergone more than ten years of design, process engineering, clinical evaluation and development work. DosePro is protected by more than 80 patents, issued and applied for, worldwide. Approximately 9,000 injections have been delivered in clinical trials in healthy volunteers using the DosePro needle-free drug delivery system.

About Zogenix

Zogenix, Inc., with offices in Emeryville and San Diego, Calif., is a privately held pharmaceutical company focused on the development and commercialization of medicines to treat neuroscience disorders and pain. The company's initial focus is the commercialization of SUMAVEL DosePro. Zogenix submitted a New Drug Application with the U.S. Food and Drug Administration for SUMAVEL DosePro in December 2007, and received FDA approval in July 2009. The company's pipeline also includes ZX002, a novel oral controlled-release formulation of hydrocodone without acetaminophen for the treatment of chronic pain, preparing to enter Phase 3 clinical trials. Zogenix also plans to license the patented DosePro needle-free drug delivery system to other companies. For additional information, visit

Zogenix(TM), Sumavel(TM) and DosePro(TM) are trademarks of Zogenix, Inc.

SOURCE Zogenix, Inc.

SOURCE Zogenix, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. Zogenix and Desitin Announce Filing for European Regulatory Approval of SUMAVEL(TM) DosePro(TM)
2. Zogenix and Astellas Enter Exclusive Co-Promotion Agreement in the US for Newly Approved Sumavel(TM) DosePro(TM)
3. Diffusion tensor imaging increases ability to remove benign tumors in children
4. Gene increases effectiveness of drugs used to fight cancer and allows reduction in dosage
5. Fat around the middle increases the risk of dementia
6. The Institute of Women's Health of North America Increases its Outreach by Offering Free and Confidential HIV Testing in Florida
7. Highlighting racial disparities increases coverage and effectiveness of health news
8. Why Watching TV Sports Increases Heart Attacks
9. Migraine Increases Likelihood of Stroke
10. Mesa Labs Increases Quarterly Dividend
11. Workplace BPA Exposure Increases Risk of Male Sexual Dysfunction, Kaiser Permanente Study Finds
Post Your Comments:
(Date:11/27/2015)... ... 2015 , ... Lizzie’s Lice Pickers just announced a special promotion that will ... their purchase of lice treatment product. In addition, customers will receive a complimentary head ... “Finding lice is a sure way to ruin the holidays, so we encourage all ...
(Date:11/27/2015)... ... 27, 2015 , ... Consistent with the Radiology Business ... Better Radiology Marketing Programs meeting will showcase some of the best 2015 ... Caesars Palace in Las Vegas with a pre-conference session on a collaborative approach ...
(Date:11/27/2015)... ... November 27, 2015 , ... Keeping in ... for mental health and wellness consultation, has collaborated with a leading web-based marketplace ... knowledge gap experienced by parents and bring advice from parenting experts within their ...
(Date:11/27/2015)... California (PRWEB) , ... November 27, 2015 , ... Avid ... Joplin Ann Arbor Michigan boxing style concert posters. This is one of Joplin's most ... the Canterbury House at the University of Michigan in Ann Arbor. The According to ...
(Date:11/26/2015)... and Cambridge, ON (PRWEB) , ... November 26, ... ... the availability of a real-time eReferral system for diagnostic imaging in the Waterloo ... X-rays, mammography, BMD and Nuclear Medicine tests directly from their electronic medical record ...
Breaking Medicine News(10 mins):
(Date:11/26/2015)... WILMINGTON, North Carolina , 26 november ... Laboratories, Inc. (AAIPharma/CML) kondigt de geplande investering ... de uitbreiding van de laboratoria en het ... . De uitbreiding zal resulteren in ... waarmee wordt voldaan aan de groeiende behoeften ...
(Date:11/26/2015)... -- 3D bioprinting market is expected to ... report by Grand View Research Inc. Rising prevalence of chronic ... transplantation is expected to boost the market growth, as 3D ... --> 3D bioprinting market is expected to ... report by Grand View Research Inc. Rising prevalence of chronic ...
(Date:11/26/2015)... November 26, 2015 ... universitetssjukhus ser potential att använda SyMRI för ... för patienter med multipel skleros (MS) ... med SyntheticMR AB för att kunna använda ... sjukhuset. Med SyMRI kan man generera flera ...
Breaking Medicine Technology: