Horizon Therapeutics, stomach ulcer treatment co., raises $15M
Horizon Therapeutics, a Palo Alto company close to bringing its stomach ulcer drug into the third and last set of clinical trials, said it has raised $15 million in a second round of funding.
Its lead product is HZT-501, a “GI-friendly” prescription NSAID.
Scale Venture Partners, formerly known as BA Venture Partners, led the round. Sutter Hill Ventures and Pequot Ventures also participated. The Company completed a $6 million first round in October 2005 with the same investors.
HZT-501 is akin to ibuprofen, but combined with an H2 receptor antagonist famotidine. “HZT-501 is specifically designed to provide pain relief while reducing stomach acidity during the peak time of risk for NSAID-induced ulceration,” the company said.
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