BioCentury
ARTICLE | Company News

Incline raises $43M, in-licenses Ionsys

June 22, 2010 1:19 AM UTC

Incline Therapeutics Inc. (Redwood City, Calif.) raised $43 million in a series A round and licensed exclusive, worldwide rights to Ionsys fentanyl from Alza Corp., a subsidiary of Johnson & Johnson (NYSE:JNJ). Ionsys fentanyl is a transdermal fentanyl patch that was approved to treat post-operative pain in the U.S. and Europe in 2006 but recalled two years later after J&J identified a defect in the production system that resulted in unrequested delivery of doses of the drug. Incline said the product would need to be approved by regulatory authorities before it could be marketed. The company expects to submit an sNDA to FDA for Ionsys in 2013. Further financial terms were not disclosed. Frazier Healthcare Ventures led Incline's series A round. Additional investors included 5AM Ventures; Technology Partners; Adams Street Partners; Saints Capital; and Emergent Medical Partners. Incline will receive the round in two tranches. ...