Braeburn bags $110M in launch cash as PDUFA date rolls up; Endo subpoenaed for documents on opioid painkillers
→ After failing to get a liftoff on Nasdaq last year, Braeburn has raised $110 million in mezzanine financing to back the prospective launch of CAM2038, an injectable formulation of buprenorphine for opioid addiction. The company has posted positive Phase III data on the drug and is now looking to set up a commercial launch, with the PDUFA date looming in a few days after a positive advisory committee vote. Up until now Apple Tree has been the sole backer at Braeburn. But this time Wellington Capital Management led the round, joined by Avista Capital Partners, RA Capital Management, New Leaf Venture Partners, Deerfield Management, and Rock Springs Capital.
→ Malvern, PA-based Endo International Plc $ENDP has been subpoenaed for documents relating to its oxymorphone-containing drugs. The drugmaker was one of many accused by the New Mexico Attorney General of pushing addictive opioid painkillers through deceptive marketing. The subpoena came from the US Attorney’s Office for the Southern District of Florida, and it asks the company to hand over documents on past or pending lawsuits along with documents on product safety, efficacy, overdoses, abuse/misuse, and overprescribing. The group said it intends to cooperate with the subpoena and any related investigation.
→ Boehringer has joined the long list of biopharma companies to enlist Adimab’s help in developing antibodies. As usual, Tillman Gerngross’s shop will do the discovery work and Boehringer will have rights to develop and later commercialize anything that comes out of the partnership. Adimab has signed on more than 50 partners over 8 years.