Neuromed raises $25M
Canada's Neuromed Pharmaceuticals, a biopharmaceutical company developing next-generation chronic pain drugs, has announced the completion of a series D financing of $25.0 million. This fourth round of financing brings the group's cumulative venture capital financing to $74.0 million.
Neuromed will use the funds to advance its lead program for developing calcium channel blockers for chronic pain, as well as for its second major development program investigating calcium channel blockers to treat pain, anxiety, epilepsy and cardiovascular diseases.
The company also announced it will change the name of its Canadian firm to Neuromed Pharmaceuticals from Neuromed Technologies. This change, it says, signals Neuromed's evolution from research and discovery to clinical development of a potential commercially competitive product that could impact the lives of millions of people living with chronic pain.
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