Civitas Therapeutics Raises $20M in Series A Financing
Summary
Civitas Therapeutics, Inc., a Chelsea, MA-based biopharmaceutical company focused on developing innovative pulmonary delivery therapies, has raised $20m in Series A financing., a Chelsea, MA-based biopharmaceutical company focused on developing innovative pulmonary delivery therapies, has raised $20m in Longitude Capital, as well as Canaan Partners.The round was co-led by founding investor,, as well as The company, which is a spin-out of Alkermes, Inc.’s pulmonary delivery business that includes the related technology, pipeline assets and the commercial ready manufacturing facility, intends to use the funding to advance its lead program for treating patients with Parkinson’s disease through clinical proof-of-concept, to be completed in 2012.Founded by Glenn Batchelder, CEO, James Wright, PhD, Chair of the Scientific Advisory Board, Richard Batycky, PhD, CSO, and Martin Freed, MD, CMO, Civitas is focused on developing products with a clinically proven dry powder pulmonary delivery platform.The company’s Board include Mr. Batchelder, Dr. Hirsch, Dr. Shannon, and Blair Jackson, a vice president of Alkermes, Inc. FinSMEs 10/01/2011