Neuromed raises $53.3M in series E financing
Neuromed Pharmaceuticals, a biopharmaceutical company developing new and improved chronic pain drugs, announced today the completion of a Series E financing of $53.3 million, which brings its cumulative financing to $126.0 million.
"Funding from this round will allow Neuromed to accelerate the development of its promising drugs to treat pain, including NMED-1077 [OROS hydromorphone], our recently in-licensed product for chronic pain in Phase III clinical development," said Christopher Gallen, the firm's chief executive. "We have three programs aimed at addressing the underserved pain market and we believe this investment reflects the confidence that our investors have in Neuromed's potential to develop new treatments for the millions of people worldwide suffering from pain," he added.
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