Pain Specialist Victory Pharma Raises $45M in Venture Round
San Diego’s Victory Pharma, a venture-backed pharmaceutical company that specializes in treatments for pain, said today it has raised $45 million in a secondary investment round. The investment was headed by Essex Woodlands Health Ventures of Palo Alto, CA, and included existing investor Ampersand Ventures of Wellesley, MA.Victory, which acquired its lead drug product in 2006, said the proceeds would be used to support future growth iniatives, including additional product acquisitions.
In addition to acquiring and marketing pain relief products, Victory also has been developing its own drug candidates for managing pain and for managing nausea and other side effects of pain drugs.
Essex Partner Scott Barry, who has joined Victory’s board, said in a statement released by the company that “Victory is a rapidly growing, profitable business that we see as an excellent growth equity platform upon which to build a substantial specialty pharmaceutical company.”
Founded in 2003, Victory markets its pain management products to rheumatologists, orthopedists, pain specialists and other primary care physicians. The company says its lead product is a once-daily version of the commonly used, non-steroidal anti-inflammatory drug naproxen sodium, marketed under the name Naprolen.