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Article: Spherics $10M Series B Raises Funds For Oral Delivery Systems.
- Article from:
- BIOWORLD Today
- Article date:
- November 4, 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
Spherics Inc. completed a second round of financing, raising $10 million to develop its bioadhesive drug delivery technologies.
"I think our investors view our technology as being unique and very promising, and having a very large target market for our products," Spherics President and CEO David Livingston said. "They also took the time to really familiarize themselves with the technology and understand it. It was that potential that I think created an excitement and enthusiasm about investing in our B round."
The company raised its initial funds - a $4 million Series A round - in January 2000. Two investors in the latest round, ...