By Lisa Kerner
Erie, Pa., Jan. 25 - MAP Pharmaceuticals, Inc. said it has closed a round of $25.25 million series C preferred stock financing.
Proceeds from the financing will be used to advance phase 2 clinical development for the company's two lead inhalation drug candidates for the treatment of pediatric asthma and migraine.
The financing was led by Brookside Capital, an affiliate of Bain Capital. All of MAP Pharmaceuticals previous investors including the Perseus-Soros Biopharmaceutical Fund; Pequot Ventures, the private equity arm of Pequot Capital Management, Inc.; Bay City Capital and Skyline Ventures were significant investors in the round. Alexandria Real Estate Equities also participated.
Matt McPherron of Brookside Capital will join MAP's board of directors.
Located in Mountain View, Calif., MAP Pharmaceuticals develops innovative therapies and inhalation delivery systems to treat a broad range of respiratory and systemic diseases.
| Issuer: | MAP Pharmaceuticals
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| Issue: | Series C preferred stock
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| Amount: | $25.25 million
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| Investors: | Brookside Capital (lead), Perseus-Soros Biopharmaceutical Fund, Pequot Ventures, Bay City Capital, Skyline Ventures, Alexandria Real Estate Equities
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| Announcement date: | Jan. 25
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