RALEIGH – Verona Pharmaceuticals, which is based in London and operates its US headquarters in Raleigh, has raised $200 million in a private placement of stock.
The funds will be used to advance a chronic obstructive pulmonary disease (COPD) it has development in Phase 3 clinical trial and for general corporate purposes.
Top executives in the firm invested nearly $1 million in the placement.
New investors in Verona include RA Capital Management, Access Biotechnology, Perceptive Advisors, Acorn Bioventures, PBM Capital, Samsara BioCapital, Foresite Capital, Sphera, Fairmount and Soleus Capital.
“We are extremely pleased to have received support from this group of highly experienced life science investors who understand the potential benefit of ensifentrine for patients with COPD,” said David Zaccardelli, president and CEO of Verona Pharma, in a statement.
“With this financing we plan to initiate our Phase 3 ENHANCE clinical trials later this year and expect to support our programs into 2023. This important milestone brings us closer to our goal of ensuring ensifentrine is available for millions of COPD patients who urgently need additional treatment options.”
Original Article Source: WRAL TechWire