Strong­bridge rais­es $53M in fi­nanc­ing; Si­en­na Bio sets terms for $70M IPO

Strong­bridge Bio­phar­ma has raised $53 mil­lion from CRG. Matthew Pauls, chief ex­ec­u­tive of­fi­cer of Strong­bridge, said: “We ex­e­cut­ed this fi­nanc­ing to trans­form the fi­nan­cial out­look of the Com­pa­ny by ful­ly fund­ing our op­er­at­ing plan un­til we at­tain pos­i­tive cash flow. The funds re­ceived at clos­ing pro­vide suf­fi­cient re­sources for us to build up­on the ear­ly up­take and de­mand that we are see­ing for Keveyis (dichlor­phenamide), and to fund Recor­lev (le­voke­to­cona­zole) through po­ten­tial reg­u­la­to­ry ap­proval and launch.”

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