Kentucky’s Xanodyne Pharmaceuticals completes $50 million equity round

NEWPORT, Kentucky – Xanodyne Pharmaceuticals Inc., developer and maker of drugs for women’s health care and pain management, has completed a $50 million round of equity financing.

The round was led by Longitude Capital, with participation from new investors Skandia and Silver Point Capital. Other current investors that participated in the financing include MPM Capital, AIG Investments‘ sponsored funds, Perseus-Soros Biopharmaceutical Fund, Blue Chip Venture Co., HealthCare Ventures and Union Springs. Aquilo Partners, a life science investment bank, acted as the exclusive placement agent for the financing.

Michael J. Valentino, Xanodyne’s president and chief executive, said: “I am extremely pleased to have secured additional financial resources which will be used to support our ongoing development and commercialization strategy for our emerging product portfolio.”

Launched in 2001, Xanodyne received Food and Drug Administration (FDA) approval for Zipsor, a treatment for relief of mild to moderate acute pain in adults in June. Zipsor was launched nationally to physicians and patients in September.

In addition, the company expects FDA action soon on Lysteda, a treatment for women suffering from heavy menstrual bleeding. ”The continued commitment from our investor groups allows us to remain focused on aggressively executing our product commercialization plans and optimizing the other assets in our portfolio,” Valentino said.