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Article: Series C Round Adding $60M To Prestwick's CNS Pipeline.
- Article from:
- BIOWORLD Today
- Article date:
- November 3, 2009
CopyrightCOPYRIGHT 2009 A Thomson Healthcare Company. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Staff Writer
Prestwick Pharmaceuticals Inc. brought in the first $30 million of a $60 million Series C round to advance drug candidates against central nervous system disorders.
The Washington-based firm, which has a lead candidate under FDA review to treat chorea associated with Huntington's disease, expects to receive the remaining $30 million when it meets certain undisclosed conditions. Prestwick could not be reached for comment, but the company said proceeds would be used to develop and commercialize its pipeline, starting with Xenazine.
In late March, the agency issued an approvable letter for Xenazine, and the company now is awaiting an ...
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