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Article: Spherics Gets $26M To Push Bioadhesive Drug Delivery.
- 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
Spherics Inc. raised $26.4 million in its third financing round to advance into the clinic a pipeline developed using its oral drug delivery platform.
The Series C investment was led by Advent International, of Boston, and is expected to move products aimed at central nervous system diseases, gastrointestinal disorders and targeted and selected oncology indications through clinical development. It also will help establish the manufacturing capabilities necessary for commercialization.
"I'm very gratified to raise [this money] in such a difficult market," said Ze'ev Shaked, president and CEO of Lincoln, R.I.-based Spherics, which ...