Acacia Pharma has raised £15 million of new funding to go with the £6.2 million it netted back in April 2011.
The pharmaceutical business is developing drugs for use in supportive care, and is in the process of marketing products aimed at preventing post-operative nausea and vomiting as well as chemotherapy induced problems.
Fidelity Biosciences and Novo A/S are leading the new funding round, and will now sit alongside Lundbeckfond Ventures and Gilde Healthcare Partners (which are also taking part) as backers of Cambridge-based Acacia Pharma.
As part of the deal, Fidelity Biosciences VP for Europe Alex Pasteur and Novo A/S senior partner Martin Edwards will be joining the company board as non-executive directors.
Julian Gilbert, CEO of Acacia Pharma, says that the company is set to initiate a number of key studies with results earmarked for release in 2014.
More on recent pharmaceutical deals:
- The North West Fund for Biomedical makes 60th investment
- Wellness and health incubator launched by Alliance Boots
- TrialReach adds Octopus Investments to list of backers
So far, Acacia Pharma has completed Phase III development for its post-operative drug, and Phase II development for its chemotherapy product. It has also developed the commercial presentation for the treatment of xerostomia (dry mouth) in advanced cancer patients.
Pasteur adds, ‘Significant numbers of post-surgical patients do not receive adequate nausea and vomiting prophylaxis.
‘Acacia Pharma’s lead product showed excellent efficacy in its Phase II trial, and had a very good safety profile. We believe that a drug with this novel mechanism and displaying these characteristics can provide a major contribution to the care of post-surgical patients.’
