Milestone Pharmaceuticals said that it has completed an $80 million financing round led by RTW Investments, a new investor. Proceeds will be used for Phase 3 development of its intranasal etripamil for the treatment of paroxysmal supraventricular tachycardia (PSVT), which recently got underway, for certain commercial activities prior to an anticipated launch of the product, and for pipeline expansion, the company said.
In August 2017, the company announced completion of a series C financing that raised $55 million.
Milestone Pharmaceuticals President and CEO Joseph Oliveto commented, “For patients, PSVT is an unpredictable disorder with significant associated medical and financial burdens, underscoring the potential opportunity for a fast-acting, self-managed therapy such as etripamil. As our registration program for etripamil in PSVT is progressing well, we are now increasingly focused on our commercial preparedness and, at the same time, looking to expand our pipeline. We are pleased to have a growing number of leading biotechnology investors supporting our efforts to execute on our goals and hopefully deliver new medicines with clinically-validated mechanisms to areas of significant unmet need.”
Read the Milestone Pharmaceuticals press release.
