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NuPathe Nets $30 Million Series B Funding

Friday, July 25, 2008 6:03:00 AM PDT | VentureDeal Staff

Conshohocken, Pennsylvania  --  Pharmaceutical company NuPathe Inc. announced that it has closed its second institutional venture capital round, receiving $30 million in new investment from a syndicate of firms.

NuPathe is developing treatments for acute migraine headaches and Parkinson's disease.  The company's lead candidate for acute migraines, NP101, is beginning large Phase III clinical trials in the United States.

The investment round was led by Quaker BioVentures and SR One, with participation from Safeguard Scientifics, Bay City Capital, Birchmere Vventures, BioAdvance Ventures and Battelle Ventures.

A significant portion of the proceeds will be devoted to satisfactory completion of NP101 trials and NDA certification, according to Tracy Warren, General Partner of investor Battelle Ventures and board observer.

Other elements of the funding will be dedicated to continuing development of the company's promising Parkinson's candidate.

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