Navigation Links
Zogenix Increases Series B Preferred Stock Financing to $71 Million, Raising $35 Million in Second Tranche
Date:12/7/2009

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 www.zogenix.com.

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:
*Name:
*Comment:
*Email:
(Date:5/24/2016)... ... May 24, 2016 , ... Loma Linda University Health (LLUH) has ... and expanded Children’s Hospital. Over 3,000 people looked on as the shovels hit the ... event photo slidehsow. , During the program, Richard H. Hart, MD, DrPH, president, ...
(Date:5/24/2016)... (PRWEB) , ... May 24, 2016 , ... ... to choose the perfect data logger for each job, ensuring the best suited ... offer calibrations of MadgeTech data loggers at their lab in Istanbul. , Metroloji ...
(Date:5/24/2016)... ... May 24, 2016 , ... Growing in popularity, more and more people ... are available and easily accessible. Whether someone chooses to cut gluten out of their ... diet, King Kullen Grocery stocks their shelves with many different gluten-free products all year ...
(Date:5/24/2016)... ... 2016 , ... The number of health insurance policies sold ... last year, according to data in the forthcoming AIS’s Directory of Health Plans: ... a slight decrease in risk-based groups and a slight increase in administrative-services-only/self-funded group ...
(Date:5/24/2016)... ... May 24, 2016 , ... As reported by MassGeneral.org, on May ... transplant in the United States . The 64-year-old patient who received the transplant had ... could restore not only a natural appearance, but also urinary and sexual function for ...
Breaking Medicine News(10 mins):
(Date:5/24/2016)... , May 24, 2016 Celsion Corporation ... development company, today provided an update on its ... clinical trial combining GEN-1, the Company,s DNA-based immunotherapy, ... of newly-diagnosed patients with advanced ovarian cancer who ... surgery.  GEN-1 is an IL-12 DNA plasmid vector ...
(Date:5/24/2016)... KONG , May 24, 2016 ... stent de doble terapia del mundo, introduce catéteres ... arteriovenosa. OrbusNeich, una compañía global especializada ... las vidas, ha expandido su cartera incluyendo productos ... balón JADE™ y Scoreflex™ PTA son los dispositivos ...
(Date:5/24/2016)... Dutch surgeons have launched a ground-breaking medical app to ... patients on a global scale. Medical professionals from Europe ... and the US have already signed up for the app, ... totally secure environment. Education  "Imagine a doctor ... a surgeon at Harvard to treat a bomb victim via live ...
Breaking Medicine Technology: