Monday, March 11, 2013

Auspex Pharmaceuticals Gets Debt Funding

San Diego-based biopharmaceuticals firm Auspex Pharmaceuticals has scored a new credit facility, from Square 1 Bank, the firms announced today. According to the firms, Auspex has received a term loan to supplement the firm's working capital while entering Phase 3 clinical trials. Financial details and size of the term loan were not disclosed. Auspex Pharmaceuticals is developing treatments for movement disorder (Chorea) due to Huntington's Disease, Tourette syndrome and tardive dyskinesia. Auspex is venture backed by Panorama Capital, Thomas, McNerney & Partners, CMEA Capital, and Sloan Biotech Fund.