Victory Pharma closes $45M equity financing

San Diego, USA-based Victory Pharma, a privately-held specialty pharmaceutical company, says that it has closed on a $45.0-million  equity financing facility led by Essex Woodlands Health Ventures.  Ampersand Ventures, an existing investor, also participated. Proceeds  will be used to support future growth initiatives, including product  acquisitions. As part of the transaction, Victory announced that Scott  Barry, an Essex Partner, has joined its board of directors.

"We are delighted to have Essex as an investor in Victory," chief  executive Matt Heck stated. "Their experience in building successful  specialty pharmaceutical companies, significant fund size and  reputation as a high quality, health care investor serve to further  position Victory for its next phase of growth."

Mr Barry remarked that Victory "has an experienced and successful  management team, which has demonstrated an ability to execute  commercially with the company's lead product Naprelan (naproxen sodium)  and at prior companies. Victory is a rapidly-growing, profitable  business that we see as an excellent growth equity platform upon which  to build a substantial specialty pharmaceutical company."