Migco Secures Funding to Develop Migraine Drug
Summary
Migco Pharmaceuticals secured NZ$1 million from Movac Ltd to advance development of its migraine prevention compound MGX-008. The company will use the money to seek FDA approval for trials and to prepare for a formal clinical study. Migco also plans to raise an additional NZ$5 million in staged funding within six to 12 months to support its clinical trial program. The investment includes a board appointment from Movac, which signals deeper involvement in the company’s growth.
Funding
Amount
$750.0K
Total raised
Date
December 11, 2007
Announcement date
Investors
Movac, Pacific Channel
Lead investors
Company
migco.co.nz
Funded company
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