Pursuant to the closing of this financing round, Frazier’s general partner, Patrick Heron, has joined the Collegium board of directors. Previous investors Boston Millennia Partners and Westfield Capital Management also participated in this financing.
The proceeds from this financing will be used primarily to support the continued development of the company’s lead DETERx product candidate, COL-003, a tamper resistant, abuse-deterrent, sustained release oxycodone formulation.
COL-003 is currently under clinical development pursuant to an active investigational new drug application (NDA) on file with the FDA. The company intends to file a NDA and has received fast track designation from the FDA.
Proceeds from the D round will also be used to support the ongoing development and commercialization of the company’s novel topical products for the treatment of skin and skin related disorders.
In addition to this financing, the company will also be exploring the sale or out-licensing of its respiratory product portfolio. This includes AllerNase (triamcinolone acetonide, USP) Nasal Spray 50mcg, a nasal inhaled steroid for the treatment of both seasonal and perennial allergic rhinitis.