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Archimedes raises L65 million

March 3, 2010 1:51 AM UTC

Archimedes Pharma Ltd. (Reading, U.K.) raised L65 million ($98.5 million) in an equity round led by new investor Novo Growth Equity. Existing investor Warburg Pincus also participated. Archimedes' PecFent fentanyl nasal spray (formerly NasalFent) is under review in the U.S. and the EU to treat breakthrough cancer pain. The company expects decisions on the product mid-year. PecFent uses the company's PecSys nasal spray drug delivery system. The specialty pharma also markets products for pain, cancer and critical care. ...