Acacia Pharma Announces £15M ($23.5M) Series B Financing
Cambridge, UK – Acacia Pharma, the pharmaceutical company specialising in the development of drugs for supportive care, announces it has raised £15 million ($23.5 million) in a Series B financing led by Fidelity Biosciences and Novo A/S. Current investors Gilde Healthcare and Lundbeckfond Ventures also participated in the round.
Dr Alex Pasteur of Fidelity Biosciences and Dr Martin Edwards of Novo A/S have joined the Board of Acacia Pharma as Non-executive Directors.
Acacia Pharma will use the proceeds to:
complete Phase III development and prepare for commercialisation of APD421 for the prevention of post-operative nausea & vomiting (PONV);
complete Phase II development of APD403 for the prevention of chemotherapy induced nausea & vomiting (CINV); and
develop the commercial presentation of APD515 for the treatment of xerostomia (dry mouth) in advanced cancer patients.
Gilde Healthcare acted as founding and lead investor in Acacia Pharma. Gilde supported the company across all financing rounds thereby maintaining a high ownership.
About Acacia Pharma
Acacia Pharma (www.acaciapharma.com) is a pharmaceutical company focused on supportive care, a significant commercial opportunity. Growth in the cancer supportive care market is driven by the increasing incidence of cancer, the expansion of effective cancer therapies and the desire to improve both the effectiveness of treatment and the quality of life of cancer patients.
Acacia Pharma has generated a pipeline of product opportunities addressing a range of supportive care indications such as nausea & vomiting, xerostomia and cachexia using a commercially driven approach to product discovery based on known drugs. This strategy leads to product opportunities with a higher probability of success and enables rapid clinical proof-of concept. In addition, Acacia Pharma’s products are expected to reach the market quickly given that they are based on the novel use of well-characterised pharmaceuticals.
Acacia Pharma is led by an experienced management team who have already successfully built and exited life sciences companies. Management, Gilde Healthcare, Lundbeckfond Ventures, Fidelity Biosciences and Novo Ventures are the Company’s key shareholders. Acacia Pharma is based in Cambridge, UK.
About Gilde Healthcare
Gilde Healthcare (Utrecht, The Netherlands and Cambridge, USA) is a transatlantic growth capital investor focused on private healthcare companies. It has over €450 million ($600 million) under management and is actively looking to lead new investments in therapeutics, medical devices and healthcare services. For a list of Gilde’s portfolio companies please visit the website at www.gildehealthcare.com.
Gilde Healthcare II is supported by the European Communities Growth and Employment Initiative, MAP – ETF Start up Facility.