Auxilium raises $28 million
Auxilium of the USA, which describes itself as "a young, innovativepharmaceutical company," has raised $28 million in a Series B equity financing. The funding was led by Perseus-Soros Biopharmaceutical Fund, and brings to $39 million the total funds raised since the firm was founded in 1999.
Other new investors included Lehman Brothers Health Care Private Equity, Schroder Ventures, and CE Unterberg Towbin Private Equity. Auxilium's early-stage investor, SCP Private Equity Partners, also participated in this latest round.
Gerri Henwood, Auxilium's chief executive, said that the financing represents a "strong show of confidence from the financial community during this difficult environment." The proceeds will allow the firm to complete a New Drug Application filing for its novel androgen formulation for male hormone replacement and to proceed further with commercialization plans.
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