Date: Mar 10, 2015 Source: Biospace (
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Massachusetts-based specialty pharmaceutical company Collegium Pharmaceutical, Inc., announced today that it has raised $50 million in its latest financing round. The money will be used to fund the company's lead abuse-deterrent product candidate, Xtampza ER, also known as oxycodone extended-release capsules.
The goal is to receive approval from the U.S. Food and Drug Administration (FDA) and commercially launch the product.
TPG Biotech led the financing round, and RA Capital Management, Adage Capital Management, Rock Springs Capital, and Eventide Asset Management were some of the many firms that joined the initiative.
"We are pleased to have such a high quality group of investors participate in this financing led by TPG Biotech," said Michael Heffernan, chief executive officer of Collegium. "We appreciate the support of our current and new investors and their belief in the potential of our lead development program, Xtampza ER, and our DETERx technology platform. The proceeds from this financing will allow us to continue to build our commercial organization and prepare for launch, subject to FDA approval."
Collegium Pharmaceutical uses its DETERx technology platform to develop products in its pipeline geared toward treating chronic pain.
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An In-Depth Look at DETERx
The DETERx platform consists of microsphere-in-capsule formulation, and it was developed to provide abuse-deterrent properties against tampering methods. The microsphere design allows patients who have difficulty swallowing to open capsules and place its contents onto food for consumption.
The DETERx technology is typically used in drugs that are commonly abused, such as opioids and amphetamines.
The NDA for Xtampzax
Collegium Pharmaceutical announced in December 2014 that it had submitted its New Drug Application to the FDA for Xtampza. The NDA included Phase III data that reflected the efficacy and safety of the drug compared to a placebo.
"This FDA submission represents a major step toward offering the first extended-release, abuse-deterrent oxycodone product that not only resists common forms of abuse, but also provides an administration option for patients with concurrent chronic pain and difficulty swallowing pills," said Heffernan, at the time of the announcement. "Filing the Xtampza ER NDA is an important milestone in our continued efforts to develop a portfolio of abuse-deterrent pain medications designed to address unmet societal needs."
Collegium Pharmaceutical has also completed all of the necessary studies to support proposed product labeling, which instructs users to administer the contents of the capsule into their mouth, onto food, or into a feeding tube.
