NeurogesX and Cowen Sign $40 Million Royalty Deal

NeurogesX Inc. (Nasdaq: NGSX), a San Carlos, Calif.-based drug company focused on pain management therapies, has entered into a $40 million royalty financing agreement with Cowen Healthcare Royalty Partners. The deal is related to a dermal delivery system containing prescription strength capsaicin. In early 2008, NeurogesX sold $25 million of common stock via a private placement to SV Life Sciences. It had gone public the prior year, after raising around $90 million in VC funding.

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