Financings In Brief
This article was originally published in The Gray Sheet
Executive Summary
Incline raises $43 million for iontophoresis drug delivery system: Ongoing development of the Ionsys transdermal, patient-activated, fentanyl delivery system for post-operative pain by Incline Therapeutics will be funded by a $43 million "Series A" equity financing led by Frazier Healthcare Ventures, the firm announces June 21. The Redwood City, Calif., company simultaneously announced that it has acquired exclusive worldwide rights to the iontophoresis technology-based system from Johnson & Johnson's Alza subsidiary. While the combination product was approved via New Drug Application in 2006, it is not currently marketed. "Before marketing Ionsys, regulatory approval must be sought from both the FDA and [European Medicines Agency] for new patient safety features being developed into the system," Incline explains. The needle-free system consists of a medicated patch that adheres to the upper arm or chest, and a delivery component that uses a low-intensity electrical field to transport a pre-programmed dose of fentanyl from the patch across the skin and into the circulatory system. Separately, Cadence Pharmaceuticals agreed to pay Incline $3.5 million for an exclusive option to acquire the privately held firm within the next several years under certain conditions