Xanodyne raises $25M for narcotics and vitamins
Xanodyne Pharmaceuticals, a Newport, Ky., specialty-pharmaceutical company specializing in narcotic pain drugs and prenatal vitamins, raised $25 million in an extension of a 2005 recapitalization, VentureWire reports (subscription required). Investors included Blue Chip Venture, HealthCare Ventures, Essex Woodlands Health Ventures, MPM Capital, Apax Partners and Aisling Capital.
Xanodyne purchased the pharmaceuticals division of aaiPharma in 2005, and so now sells a variety of narcotic painkillers that include Darvon, Darvocet and forms of methadone, morphine and oxycodone, as well as its prenatal vitamins. The company told VentureWire it raised the funds to prepare for an IPO sometime in the next six to nine months.
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About the Author, David P. Hamilton
David Hamilton has been writing for VentureBeat LifeScience since April 2007. He formerly spent 14 years as a reporter for the Wall Street Journal in its San Francisco and Tokyo bureaus. Prior to that, he spent several years as a reporter at Science Magazine and as a reporter/researcher for the New Republic, both in Washington.