Zogenix Gains $18M In New Funding

San Diego-based Zogenix, a firm developing specialty pharmaceuticals for the neurology and pain market, said Wednesday that it has raised $18M in a private placement of preferred stock. The round came from Abingworth Management Ltd., and also included prior investors Clarus Ventures, Domain Associates, and Scale Venture Partners. Zogenix said the funding will go towards commercialization of the firm's DosePro (sumatriptan) compound, and for development of its controlled-release opioid it recently licensed from Elan. The funding brings the company's total funding to $18M. More information »