Solstice raises $85M in private financing
Solstice Neurosciences, a privately-held US biopharmaceutical company, says that it has received a combined $85.0 million in series B equity funding and debt financing.
Highland Capital Management of Dallas, Texas, led the financing which included participation by existing series A investors: Thomas, McNerney & Partners, Investor Growth Capital, Morgan Stanley Venture Partners and Oxford Bioscience Partners. Brett Pope and Nathan Hukill of Highland Capital Management will join Solstice's board of directors with the closing of this financing agreement.
These new funds will support the company's ongoing initiatives related to movement disorders and treatment for cervical dystonia using Myobloc (botulinum toxin type B) injectable solution (also sold and distributed as NeuroBloc in Europe). In addition, the proceeds will be used to fund growth initiatives and advance product development, said Solstice.
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