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.”