Edge Therapeutics has raised approximately $72.5 million in gross proceeds from two recently completed private financing rounds.
The most recent round, a $56 million Series C-2 financing, was completed in April 2015 and was led by Venrock with participation of Sofinnova Ventures, Janus Capital Management LLC, funds managed by Franklin Advisors, New Leaf Venture Partners and BioMed Ventures.
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In connection with the C-2 offering, Anders Hove, M.D., Partner at Venrock and James Healy, M.D., Ph.D., Managing Partner of Sofinnova Ventures, have joined the Edge Therapeutics Board of Directors.
Edge expects to use part of the proceeds from these financings to complete its Phase 1/2 NEWTON study and prepare for a Phase 3 pivotal study for its lead product candidate, EG-1962, which is designed to improve patient outcome following an aneurysmal subarachnoid hemorrhage (aSAH), also known as a ruptured brain aneurysm.