Tuesday, July 13, 2010

Zogenix Gets $50M in Debt, Equity

San Diego-based Zogenix announced today that it has just raised $35M in debt, and $15M in equity funding. The developer of biopharmaceuticals said that the $35M in debt came from Oxford Finance Corporation and Silicon Valley Bank, and was split between $25M in a term loan and $10M in a revolving line of credit. In addition to the debt, the firm said it has raised $15M in additional funding, from all of its existing investors, including Clarus Ventures, Domain Associates, Scale Venture Partners, Thomas, McNerney & Partners, Abingworth Management, and Chicago Growth Partners. Zogenix said the funding will go towards working capital for the launch of the firm's SUMAVEL DosePro needle-free delivery system. More information »

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