scPharmacuticals raises $45M B round; Struggling Nivalis and Acura take stock of “strategic alternatives”
• Lexington, MA-based scPharmaceuticals, which is taking generic drugs and reformulating them for subcutaneous injection, has raised $45.6 million in its Series B round. The round was co-led by OrbiMed and a wholly-owned subsidiary of Sun Pharmaceutical Industries, Sun Pharma. Existing investors 5AM Ventures and Lundbeckfond Ventures participated in the financing.
• A month after Nivalis $NVLS saw its shares crater after its lead program flunked a mid-stage trial, the biotech is looking at its strategic alternatives while cutting back on costs. Nivalis says it will complete its ongoing SNO-7 trial of cavosonstat in patients with CF who are currently taking Kalydeco (ivacaftor), which is expected to be completed in the first quarter of 2017.
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