NEW YORK, Oct. 26, 2016
NEW YORK, Oct. 26, 2016 /PRNewswire/ -- Octagon Capital Group, LLC, a boutique investment bank specializing in M&A and financings for leading growth companies, announced that Castle Creek Pharmaceuticals (www.castlecreekpharma.com) completed a $48 million capital raise from Fidelity Management and Research Company on September 29, 2016. Octagon Capital Group serves as the investment banker to Castle Creek Pharmaceuticals, and advised Castle Creek in connection with this transaction.
Based in Parsippany New Jersey, Castle Creek Pharmaceuticals is a rapidly growing biopharmaceutical company with a focus on the treatment of patients with rare and debilitating dermatologic and head and neck conditions. Castle Creek will use the funds to complete development of its late-stage clinical pipeline, including its lead program for the treatment of patients with epidermolysis bullosa simplex, which will be starting a clinical registration trial in the fourth quarter of this year.
Castle Creek was founded by Michael Derby and Jeffrey Aronin, two experienced pharmaceutical entrepreneurs. Derby, who serves as CEO, previously founded Norphan Pharmaceuticals, which was sold to Marathon Pharmaceuticals in 2013. Castle Creek Chairman Aronin is the CEO of Marathon, and he was previously the founder and CEO of Ovation Pharmaceuticals, which was sold to Lundbeck in 2009. Castle Creek has rapidly assembled a robust and diversified late-stage pipeline of innovative and high-potential products in the specialty dermatology and ear, nose and throat (ENT) space, with a particular focus on rare diseases and other areas of high medical need.
"We leverage high-quality scientific data to develop important products that can make a real impact on patients' lives," said Derby. "Our products have established clinical proof-of-concept and are entering the final stages of development for serious diseases, where few or no treatment options exist today."
"Led by a top-tier management team with extensive experience, Castle Creek has created a strong pipeline of high-potential drug candidates that target serious diseases," said Michael Levy, Managing Partner of Octagon Capital Group. "Castle Creek's product portfolio has the potential to enter the market within 2-3 years, addressing unmet needs of patients facing a range of debilitating conditions, and enabling the company to establish a strong position in its core sectors."
For more information, visit: www.castlecreekpharma.com.
About Castle Creek Pharmaceuticals
Castle Creek Pharma is a high-growth biopharmaceutical company that has rapidly assembled a robust and diversified late-stage pipeline of products backed by strong science and focused on meeting patient needs in the treatment of rare and debilitating dermatologic and head and neck conditions.
About Octagon Capital Group
Octagon Capital Group, LLC is a merchant banking firm that combines top-tier investment banking with an intense focus on building shareholder value. Bringing extensive transactional and tactical expertise, Octagon specializes in mergers and acquisitions, and equity and debt financings for public and private companies with significant potential for value creation. Member FINRA, SIPC.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/octagon-capital-group-announces-completion-of-equity-raise-for-castle-creek-pharmaceuticals-300351962.html
SOURCE Octagon Capital Group, LLCPR Newswire
Last updated on: 26/10/2016
PharmiWeb.com is Europe's leading industry-sponsored portal for the Pharmaceutical sector, providing the latest jobs, news, features and events listings.
The information provided on PharmiWeb.com is designed to support, not replace, the relationship that exists between a patient/site visitor and his/her physician.