CANTON, Mass., March 10, 2015 (GLOBE NEWSWIRE) -- Collegium Pharmaceutical, Inc., a specialty pharmaceutical company focused on the development and commercialization of innovative abuse-deterrent treatments for chronic pain and other diseases, today announced that it has raised a $50 million financing. Collegium plans to use the proceeds of this financing to advance its lead abuse-deterrent product candidate, Xtampza ER (oxycodone extended-release capsules), through potential FDA approval and commercial launch as well as to fund operational growth and other pipeline development programs. The FDA accepted for filing Collegium's New Drug Application (NDA) for Xtampza ER in February 2015.
The financing was led by TPG Biotech, which was joined by RA Capital Management, Adage Capital Management, Rock Springs Capital, EcoR1 Capital, Eventide Asset Management and Aperture Venture Partners. Existing investors, Longitude Capital, Skyline Ventures, Frazier Healthcare and Boston Millennia Partners, also participated in the financing. In conjunction with this financing, Eran Nadav, Ph.D., Partner and Managing Director of TPG Biotech, will join the Board of Directors of Collegium.
"We believe that Xtampza represents the best in class approach to creating an abuse-deterrent extended-release opioid. Xtampza is one of several product candidates that leverages Collegium's proprietary DETERx technology platform. We are excited to partner with Collegium to advance its lead program to potential FDA approval and commercialization," said Eran Nadav.
"We are pleased to have such a high quality group of investors participate in this financing led by TPG Biotech," said Michael Heffernan, CEO of Collegium. "We appreciate the support of our current and new investors and their belief in the potential of our lead development program, Xtampza ER, and our DETERx® technology platform. The proceeds from this financing will allow us to continue to build our commercial organization and prepare for launch, subject to FDA approval."
About DETERx Technology
The DETERx technology platform consists of a microsphere-in-capsule formulation. While developed primarily to provide abuse-deterrent properties to protect against common methods of tampering such as chewing, crushing, insufflation, and extraction for IV injection, the microsphere design could enable patients with difficulty swallowing to open the capsule and administer the contents onto food or via feeding tube, while maintaining the extended-release (ER) properties of the product. The DETERx technology can be used with drugs that are commonly abused such as opioids and amphetamines, as well as drugs that have a narrow therapeutic index that would benefit from protection against misuse. The DETERx technology platform is covered by U.S. and foreign patents and patent applications. Xtampza ER(oxycodone extended-release capsules) is the first of a number of Collegium product candidates using the DETERx technology platform.
About Collegium Pharmaceutical, Inc.
Collegium Pharmaceutical, Inc. is a specialty pharmaceutical company focused on developing a portfolio of products that incorporate its patent-protected DETERx technology platform for the treatment of chronic pain. The DETERx oral drug delivery technology is designed to provide extended-release delivery, unique abuse-deterrent properties, and flexible dose administration options. For more information, visit the Company's website at www.collegiumpharma.com.
CONTACT: Douglas R. Carlson Vice President, Corporate Development Collegium Pharmaceutical, Inc. 781-713-3739 firstname.lastname@example.org
Source:Collegium Pharmaceutical, Inc.