Xanodyne Pharma Raises $38 Million, Names New CEO
Xanodyne Pharmaceuticals Inc., a Florence, Ky.-based drug company, has raised $38 million in new VC funding led by MPM Capital. Return backers include AIG Investments, Aisling Capital, Blue Chip Venture Co., Essex Woodlands Health Ventures, HealthCare Ventures and Union Springs. The company previously raised around $232 million in total VC funding, including a $170 million Series A-1 round in 2005 that helped finance the $210 million acquisition of aaiPharma's pharmaceutical division out of bankruptcy. Last October, it canceled a proposed $86.25 million IPO due to “market conditions.”
4 June 2009•2 mins read
