By Jennifer Chiou
New York, Dec. 20 - Acologix, Inc. said it closed on $25.3 million in series C financing.
Investors included Tokio Marine & Nichido Fire Insurance Co., Ltd., JAIC America and its group companies, Nomura Research and Advisory Co., Ltd., Nomura Securities Co., Ltd. and UOB JAIC Venture Bio Investments Ltd.
"We believe this financing validates the progress that Acologix has made in each of its programs over the year and will permit us to further advance our product development and commercialization efforts," president and chief executive officer Yoshi Kumagai said in a news release.
Proceeds will go towards the phase 3 clinical development of the company's AC-820 for uremic pruritus in dialysis patients and development of its hard tissue regeneration compound, AC-100, and AC-200, which is aimed at reducing serum phosphate levels associated with chronic kidney disease.
The company said it has now raised over $72 million in private financing.
Based in Hayward, Calif., Acologix is a biopharmaceutical company focused on bone and kidney diseases.
| Issuer: | Acologix, Inc.
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| Issue: | Preferred stock
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| Amount: | $25.3 million
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| Round: | Series C
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| Investors: | Investors included Tokio Marine & Nichido Fire Insurance Co., Ltd., JAIC America and its group companies, Nomura Research and Advisory Co., Ltd., Nomura Securities Co., Ltd., UOB JAIC Venture Bio Investments Ltd.
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| Announcement date: | Dec. 20
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