OREXIGEN completes $30M financing
San Diego, USA-based OREXIGEN Therapeutics, a privately-held, clinical-stage neuroscience company developing novel strategic approaches to the treatment of obesity, says it has completed a $30.0 million series C private equity financing. Existing investors participated in the financing, along with new investors MPM BioEquities and Wasatch Advisors.
The proceeds will be used to advance the firm's clinical programs for its two lead drug candidates for the treatment of obesity and for general corporate purposes.
The firm's lead product candidates are: Contrave, a proprietary formulation of naltrexone, used to treat narcotic and alcohol dependency, and bupropion, a dopamine and norepinephrine reuptake inhibitor, which is now in Phase II/III trials; and Excalia, a proprietary combination of bupropion, a dopamine and norepinephrine reuptake inhibitor, plus zonisamide, an approved anticonvulsant, now in Phase IIb testing.
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