DOV Pharmaceutical raises $10.4 million
DOV Pharmaceutical of the USA has completed a $10.4 million series Dconvertible preferred stock financing led by Merlin BioMed Private Equity Fund. Lazard Freres & Co served as placement agent.
Chief executive Arnold Lippa said that DOV has made advancements in the areas of clinical development and corporate partnerships over the past year, and has "significantly broadened our management team." Its portfolio includes four advanced-stage compounds targeting disorders of the central nervous system and cardiovascular disease, and an additional late stage compound for the treatment of insomnia, NBI-34060, has been licensed to Neurocrine Biosciences.
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