Pacira Pharmaceuticals Receives $10 Million in Venture Funding

Bruce V. Bigelow11/17/08

[Corrected 2/26/09. See below for details.] New Jersey-based Pacira Pharmaceuticals, which operates its research and manufacturing center in San Diego, has received a $10 million final installment of a venture financing round, the total value of which was not disclosed. Backers of the company, which makes controlled-release injectable products, include MPM Capital, HBM BioVentures, OrbiMed Advisors, and Sanderling Ventures.

[Editor's note: An earlier version of this story mistakenly said that Pacira had expanded its venture round to $85 million, having previously secured $30 million. Pacira CFO Jim Scibetta now tells us that the $85 million figure refers to the total value of a deal involving Pacira's previous owner, SkyePharma, which sold the company to the venture investors. We regret the error.]

Bruce V. Bigelow is the editor of Xconomy San Diego. You can e-mail him at bbigelow@xconomy.com or call (619) 669-8788