Monday, July 28, 2008

Zogenix Gets $18M In Debt

San Diego-based Zogenix, a developer of specialty pharmaceuticals, said Monday that it has raised $18M in a secured loan facility. The loan came from Oxford Finance Corporation and CIT Healthcare LLC. Zogenix said the funding will go towards preparing for the laun chof its first product, which is targeted at treatment of acute migraine. Zogenix is developing two products focused on treatment of central nervous system (CNS) disorders and pain. Zogenix has previously raised equity capital from Abingworth Management, Clarus Ventures, Domain Associates, Life Science Angels, Scale Venture Partners and Thomas, McNerney & Partners.