TransOral Pharmaceuticals Raises $40 Million in Series D Financing
TransOral Pharmaceuticals, Inc. announced recently that it has closed a Series D financing in the amount of $40 million. The capital raised will support the development of Intermezzo™ through NDA filing in the second half of 2008.
Intermezzo™ is the company’s lead product candidate for the treatment of insomnia in patients who awaken in the middle of the night and have difficulty returning to sleep. The investor syndicate was led by New Enterprise Associates (NEA) and included follow-on investments by New Leaf Venture Partners, Montreux Equity Partners, InterWest Partners, Hamilton BioVentures, Vivo Ventures, Peninsula Equity Partners, and Hercules Technology Growth Capital.
Glenn A. Oclassen, TransOral President & CEO, stated, “We are pleased to add the proven capabilities and resources of New Enterprise Associates to our existing group of strong investors. NEA has a long history of building innovative healthcare companies, and we’re proud to be associated with them.”
“We believe Intermezzo™ will address an important and underserved segment of the insomnia market.” said Jake Nunn, New Enterprise Associates Partner. “This investment provides TransOral with the financial strength to file the Intermezzo™ NDA and we look forward to working with the company to leverage its unique position and create significant shareholder value.”
TransOral Pharmaceuticals is a specialty pharmaceutical company deriving new patient benefits from proven CNS drugs. TransOral priority projects include the development of novel therapeutics for the treatment of insomnia, alcohol dependence, and migraine. The company recently completed a pivotal Phase 3 trial evaluating the company’s lead product candidate Intermezzo™, low dose sublingual zolpidem for the treatment of insomnia in patients who awaken in the middle of the night and have difficulty returning to sleep.
For more information, please visit: www.transoral.com