Opioid Addiction Treatment Co. Nabs $110M For New Product

Law360, New York (January 11, 2018, 6:51 PM EST) -- Braeburn Pharmaceuticals Inc. on Thursday said investors contributed $110 million to a recent funding round as the biotechnology firm targets regulatory approvals and commercialization of the company's latest opioid addiction treatment.

Led by first-time Braeburn investor Wellington Capital Management, the Princeton, New Jersey-based company said it will use the funds from the mezzanine financing round to push forward on obtaining U.S. Food and Drug Administration approval for investigational drug CAM2038 — a weekly or monthly injectable, slow-release product that is intended to treat opioid addiction and chronic pain.

Other first-time investors in Braeburn include Avista Capital Partners, Deerfield Management, New Leaf...

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