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Flexion Therapeutics Secures $20 Million in Series B Financing
Date:12/3/2012

WOBURN, Mass., Dec. 4, 2012 /PRNewswire/ -- Flexion Therapeutics, Inc. today announced that the company has secured $20 million in a Series B financing round led by new investor, Novo Ventures. Flexion's existing investors, 5AM Ventures, Pfizer Venture Investments, Sofinnova Partners and Versant Ventures also participated in the financing.  Proceeds will be used to fund late stage clinical development of the company's portfolio of intra-articular, sustained release therapies for the treatment of osteoarthritis.  In conjunction with the financing, Heath Lukatch, Ph.D., Partner in Novo Ventures, has joined the company's Board of Directors.

"We welcome both Novo and Heath to our Board," said Michael Clayman, M.D., chief executive officer of Flexion. "We believe they will contribute greatly to our future success. These additional funds will allow us to progress our novel osteoarthritis programs, FX006 and FX005, through significant value-creating clinical events."

Heath Lukatch said, "Flexion's robust pipeline of novel osteoarthritis therapies and the company's highly experienced management team made this an attractive investment for Novo. We believe innovative, long--acting drug candidates have the potential to significantly improve the lives of millions of patients living with osteoarthritis."

About Flexion Therapeutics
Flexion discovers and develops innovative therapeutics for musculoskeletal disorders. In our efforts to provide products with superior efficacy and safety, we are merging novel pharmacology with local, sustained delivery of drug to the site of disease – an approach that aims to ensure lasting therapeutic effect and systemic safety. We are currently advancing a portfolio of best-in-class drug candidates that have the potential to treat mild, moderate and severe forms of osteoarthritis. Top-line data for FX005, an intra-articular sustained release p38 MAP kinase inhibitor and our lead compound, showed prol
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SOURCE Flexion Therapeutics, Inc.
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