Advertise With UsAdvertise on our extensive network of industry websites and newsletters.
Get the PBR newsletterSign up to our free email to get all the latest PBR
news.MonoSol Rx, a drug delivery company, has announced the closing of a private equity financing round totaling $20 million, including the conversion of $10 million of bridge loan debt funded in November, 2007.
Subscribe to our email newsletter
The round was led by the Ed Bass Group of Fort Worth, Texas with The Halifax Group and CNF Investments a subsidiary of Clark Enterprises, as other major investors.
MonoSol Rx will use the funds for general corporate purposes, capital equipment investments and for the advancement of its R&D programs targeting prescription and over-the-counter pharmaceutical products that employ PharmFilm, the company’s proprietary thin film drug delivery technology.
Mark Schobel, CEO of MonoSol Rx, said: “This current round of equity financing, which comes on the heels of a $10 million debt facility established in April 2008, further strengthens MonoSol Rx’s cash position and provides us with the resources we need to develop and commercialize key products utilizing our PharmFilm drug delivery technology.”