Macroflux Corp., a Mountain View developer of drug delivery technology using patches, has raised $75 million in first-round funding, as it spins out from Johnson & Johnson subsidiary ALZA Corp.
Nomura Phase4 Ventures led the deal, and was joined by New Enterprise Associates and HBM Partners. ALZA has a minority position of less than 20 percent in the spin-off, according to VentureWire (sub required), which first reported the news this morning.
Tags: co:Macroflux, inv:HBM-Partners, inv:New-Enterprise-Associates, inv:Nomura-Phase4-Ventures, people:Chris-Sacca
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