Post by sgarner on Jul 31st, 2008 at 1:49am
- (Business Wire) Zogenix, Inc. (“Zogenix”), a privately held, specialty pharmaceutical company, announced today it has closed an $18 million secured loan facility with Oxford Finance Corporation and CIT Healthcare LLC.
Zogenix will use the financing proceeds to continue to prepare for the potential launch of its first product, sumatriptan DosePro™, for the treatment of acute migraine. DosePro is Zogenix’s novel needle-free, pre-filled, single-use delivery technology for subcutaneous drug administration. Zogenix continues to scale-up its manufacturing capacity and build its sales and marketing capabilities in preparation for a targeted 2009 launch of sumatriptan DosePro, subject to the receipt of FDA approval.
“We are very pleased with the support from Oxford and CIT and look forward to working with them as we continue to grow Zogenix,” said Roger Hawley, Zogenix’s Chief Executive Officer. “Completing our commercial manufacturing readiness, building inventory and building our sales and marketing infrastructure for our potential first product launch are three of our most important priorities for 2008. We remain on track and on schedule with the commercialization plans for sumatriptan DosePro.”
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Zogenix will use the financing proceeds to continue to prepare for the potential launch of its first product, sumatriptan DosePro™, for the treatment of acute migraine. DosePro is Zogenix’s novel needle-free, pre-filled, single-use delivery technology for subcutaneous drug administration. Zogenix continues to scale-up its manufacturing capacity and build its sales and marketing capabilities in preparation for a targeted 2009 launch of sumatriptan DosePro, subject to the receipt of FDA approval.
“We are very pleased with the support from Oxford and CIT and look forward to working with them as we continue to grow Zogenix,” said Roger Hawley, Zogenix’s Chief Executive Officer. “Completing our commercial manufacturing readiness, building inventory and building our sales and marketing infrastructure for our potential first product launch are three of our most important priorities for 2008. We remain on track and on schedule with the commercialization plans for sumatriptan DosePro.”
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