scPharmaceuticals said today that it closed a $45.6 million Series B round, co-led by OrbiMed and a subsidiary of Sun Pharmaceutical Industries. Other investors included 5AM Ventures and Lundbeckfond Ventures.
The investment will be used to support the development of the operational and commercial infrastructure needed to bring Furoscix and the sc2Wear Infusor to market in the U.S., the company said.
“We are very pleased with the strong interest in this financing round from leading life science and strategic corporate investors,” founder, president & CEO Dr. Pieter Muntendam said in prepared remarks. “The additional funds will support our preparation for the commercial introduction of Furoscix and the sc2Wear Infusor, as well as further development of our antibiotic pipeline products.”
The Lexington, Mass.-based company’s sc2Wear Infusor is a patch pump device that delivers drugs subcutaneously. scPharmaceutical’s lead products are the 1st subcutaneous formulations of furosemide, a parenteral diuretic to treat heart failure, and a widely used antibiotic known as ceftriaxone.
Jonathan Silverstein, partner & co-head of global private equity at OrbiMed, and Abhay Gandhi, CEO of North America at Sun Pharma, will join scPharmaceuticals’ board of directors as a part of the new financing.
“OrbiMed is pleased to participate in this financing of scPharmaceuticals,” Silverstein said. “The timing is right for the development of innovative life sciences products, such as the sc2Wear platform, which aim to reduce the overall cost of healthcare.”
