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news.scPharmaceuticals has announced that it has closed a $16m Series A venture financing round co-led by 5AM Ventures and Lundbeckfond Ventures.
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Proceeds from the financing will be used to further develop its first two pharmaceutical products and its associated drug delivery technology. The first product is a novel drug-device combination product based on the active ingredient furosemide, the cornerstone of heart failure treatment, allowing for convenient anytime anywhere subcutaneous delivery.
Furosemide currently requires intravenous administration when higher doses are temporarily necessary in the management of patients with heart failure. The second product is a new drug-device combination product of a cephalosporin antibiotic, currently only available for intramuscular and intravenous administration.
Both products aim to reduce the burden of disease for patient and payor and offer a safer and more convenient form of treatment. The company is building a pipeline behind these two lead programs.
scPharmaceuticals director and 5AM Ventures partner Dr Kush Parmar noted that scPharmaceuticals has the potential to establish a new pharmaceutical and care paradigm, where common and widely used parenteral drugs can be conveniently self-administered subcutaneously.
"What most excites us is the potential to build a portfolio of products that help shift care to more convenient and cost-effective settings," Dr Parmar added.
scPharmaceuticals president, CEO and founder Dr Pieter Muntendam said: "5AM and Lundbeckfond Ventures are two of the most prominent life sciences venture investors and it is a privilege to welcome them as co-leads of our Series A investment."