Navigation Links
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 prolonged improvement in joint pain and function throughout the 12-week duration of the Phase 2 study. FX006, an intra-articular sustained release steroid, is currently being evaluated in a Phase 2b dose ranging study and a pharmacokinetic/pharmacodynamics study. FX007, an intra-articular sustained release TrkA inhibitor is being developed to safely address the intractable pain associated with end-stage osteoarthritis.   For more information please visit www.flexiontherapeutics.com.

About Novo Ventures
Novo Ventures is part of Novo A/S, which is the holding company of the Novo Group, and is wholly owned by the Novo Nordisk Foundation. Novo A/S was established in 1999 to manage the assets of the Foundation and actively make investments on behalf of the Foundation. Novo is active in both Europe and North America. The Novo Ventures team consists of four partners in Copenhagen, one in London and four in San Francisco. With an evergreen structure, Novo A/S annually invests approximately $140 million in venture capital into life sciences companies, and thus acts at a pace comparable to a traditional $650-750 million fund. Novo A/S is not a corporate strategic fund; the group invests for financial rather than strategic returns. In total Novo A/S has more than $30 billion under management, which includes significant shareholdings in the independently operating and publicly listed companies Novo Nordisk A/S and Novozymes A/S.  For more information visit: www.novo.dk.

Contacts:

Corporate Contact
Lisa Davidson, MBA
Vice President, Finance and Administration
T: 781-897-9965
ldavidson@flexiontherapeutics.com

Media Contacts
Tony Russo, Ph.D.                                           
Matt Middleman, M.D.                                 
Russo Partners                                                                 
T: 212-845-4251               
T: 212-845-4272
tony.russo@russopartnersllc.com
matt.middleman@russopartnersllc.com

Investor Contact
John Woolford                 
Westwicke Partners                                                      
T: 443-213-0506
john.woolford@westwicke.com

                             


'/>"/>
SOURCE Flexion Therapeutics, Inc.
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. West Health Institute licenses Kinect-based physical therapy technology to Reflexion Health; West Health Investment Fund makes $4.25 million investment
2. Flexions Lead Osteoarthritis Drug Candidate Demonstrates Significant, Prolonged Improvement in Pain and Function in Phase 2 Trial
3. Echo Therapeutics Announces Proposed Public Offering
4. Novelos Therapeutics To Present At The Benchmark 2012 Micro Cap Discovery Investor Conference On November 29
5. Fate Therapeutics Initiates Phase 2 Clinical Study of ProHema for the Treatment of Hematologic Malignancies
6. Epizyme Publishes Current Review on Targeting Protein Methyltransferases for Personalized Cancer Therapeutics
7. MabVax Therapeutics Closes $5.25 Million Financing with Numoda Capital Innovations, Burrill Capital Fund IV, and RTP Venture Fund
8. Cystic Fibrosis Foundation Therapeutics Announces $58 Million CF Drug Discovery Agreement with Pfizer
9. Echo Therapeutics Hires Daniel Sunday as Vice President of Manufacturing and Global Supply Chain
10. Caliber and ImmunGene Launch Valor Biotherapeutics, a Joint Venture to Develop Antibody-Interferon Fusion Therapeutics to Treat Cancers
11. Echo Therapeutics Chosen to Present at the 12th Annual Diabetes Technology Meeting
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:4/28/2016)... 2016 , Net Sales of $1.90 billion ... the prior year period, and an increase of 1.2% on ... EPS for the first quarter were $0.52 reported, a decrease ... an increase of 29.9% over the prior year period ... guidance for 2016 Zimmer Biomet Holdings, Inc. (NYSE ...
(Date:4/28/2016)... , April 28, 2016 Oramed ... a clinical-stage pharmaceutical company focused on the development of oral ... in the upcoming PIONEERS 2016 conference, presented by Joseph ... 2016 in New York . Nadav ... at the conference. Presentation Details:   ...
(Date:4/28/2016)... April 28, 2016  ValGenesis, Inc., the ... Solutions (VLMS) today announced that a prominent ... sufferers of chronic kidney failure has selected ... their corporate validation process. The global medical ... solution to manage their validation processes electronically. ...
Breaking Medicine Technology:
(Date:4/30/2016)... , ... April 30, 2016 , ... ... Studios. With inMotion3D Abstract users can distort and manipulate three-dimensional shapes with ease ... rotation, columns, rows, ranks, point, lines, polygons, polygon texture animation, opacity texture animation, ...
(Date:4/30/2016)... ... April 30, 2016 , ... ... News on April 4th, 2016 questioned the use of the HyProCure sinus ... as “a controversial procedure.” EOTTS-HyProCure is a minimally invasive procedure performed, when ...
(Date:4/29/2016)... ... ... In an article published April 16th on the New York ... injections, which she underwent in order to feel more at home at this year’s ... article explains that Ms. Mirmelli’s situation is not unique; many plastic surgeons say they’ve ...
(Date:4/29/2016)... ... ... On Tuesday, April 26, 2016 members of the HomeTown Health network, a network ... on SB 258, the “Rural Health Care Relief” Bill. , The bill, which was ... individuals and corporations which donate directly to a “rural hospital” in Georgia, and goes ...
(Date:4/29/2016)... ... April 29, 2016 , ... Coast Dental Fort Stewart ... at its new location in the Exchange Furniture Mall at 112 Vilseck Road in ... 50-inch Samsung Smart TV. Plus attendees will have the opportunity to meet general dentists ...
Breaking Medicine News(10 mins):