By Elaine Rigoli
Tampa, Fla., Aug. 2 - Biodel, Inc. announced a $21 million series B financing round led by Great Point Partners, OrbiMed Advisors and Vivo Ventures.
As a part of the financing, Biodel also announced the addition of David Kroin, co-founder and managing director at Great Point Partners, Albert Cha, managing partner at Vivo Ventures and Samuel Wertheimer, principal at OrbiMed Advisors, to its board of directors.
Biodel said its first potential product is a rapid-acting injectable insulin called Viaject. This product is designed to speed the delivery of insulin into the blood and in a manner that closely resembles the body's normal release of insulin into the bloodstream, which may improve the efficacy and efficiency of the drug.
Biodel is a biopharmaceutical drug-delivery company based in Danbury, Conn.
| Issuer: | Biodel, Inc.
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| Issue: | Series B financing
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| Amount: | $21 million
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| Investors: | Great Point Partners, OrbiMed Advisors and Vivo Ventures
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| Announcement date: | Aug. 2
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