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news.Victory Pharma, a specialty pharmaceutical company, has closed on a $45 million equity financing facility led by Essex Woodlands Health Ventures. Ampersand Ventures, an existing investor, also participated in the financing.
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Proceeds will be used to support future growth initiatives, including product acquisitions. As part of the transaction, Victory announced that Scott Barry, Essex Partner, has joined its board of directors. Cowen and Company acted as exclusive placement agent for the transaction.
Matt Heck, president and CEO of Victory Pharma, said: “We are delighted to have Essex as an investor in Victory. Their experience in building successful specialty pharmaceutical companies, significant fund size and reputation as a high quality, health care investor serve to further position Victory for its next phase of growth. Importantly, in the course of the financing process, we found there is a good cultural fit between the company and Essex, which was also very important to us.”