Acacia Pharma raises £15m in series-B

Previous investors Gilde Investment Management and Lundbeckfond Ventures took part in the round, which was led by new investors Fidelity Biosciences and Novo.

Acacia will use the proceeds from the round to complete the phase III development of its APD421 product, complete phase II development of its APD403 product and develop the commercialisation of its APD515 product.

The company has a range of products in the pipeline and plans to out-license them when development has ceased.

The company's management holds a stake in Acacia alongside its investors.

Previous funding
Acacia's series-A round took place in March 2011. The company raised €10m from Gilde and Lundbeckfond, with Gilde leading the round and investing via its €150m Gilde Healthcare II fund.

Company
Founded in 2007, Acacia is based in Cambridge and currently employs three staff. The company is focused on developing products that aid in the management of the symptoms of cancer and the side effects of cancer treatment.

The company's three products are APD421, which is designed to prevent post-operative nausea and vomiting; APD403, which is meant to prevent chemotherapy-induced nausea and vomiting; and APD515, which is for the treatment of xerostomia, also known as dry mouth syndrome.

People
Julian Gilbert is the CEO of Acacia, as well as a co-founder alongside chief scientific officer Robert Gristwood. Gilde partner Pieter van der Meer and Lundbeckfond senior investment director Johan Kördel both sit on Acacia's board as non-executive directors. Novo Ventures senior partner Martin Edwards has joined the board as a non-executive director as part of this funding round alongside Alex Pasteur, the Europe vice president at Fidelity.

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• Topics
• UK / Ireland
• Healthcare
• Early-stage
• United Kingdom
• Gilde Investment Management