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Quinnova Pharma Raises Series B Venture Capital

Friday, October 30, 2009 5:54:00 AM PDT | VentureDeal Staff

Newtown, Pennsylvania  --  Specialty pharmaceutical company Quinnova Pharmaceuticals has garnered $17.4 million in its second round of venture capital investment.

Quinnova says that it utilizes a reformulation strategy that uses already proven pharmaceutical ingredients delivered in unique and patent protected delivery system.

Safeguard Scientifics was the lead investor in the round, which also included Thomas, McNerny & Partners, HIG Ventures and Omnivest.  The company said it would use the funding proceeds to fund a Phase III clinical trial for an unnamed product.

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