Milestone Pharmaceuticals said today that it closed a $55 million series C financing round. Led by Novo Holdings, the round also included new investors Forbion Capital Partners and Tekla Capital Management, as well as existing investors Domain Associates and Fonds de solidarité FTQ, BDC Capital, Pappas Capital, and GO Capital.
The Montreal-based company is slated to use its newly-acquired funds to bring its lead product, etripamil, into Phase III trials. Etripamil is a short-acting calcium channel blocker that Milestone Pharmaceuticals is formulating as a fast-acting nasal spray to quickly stop paroxysmal supraventricular tachycardia.
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