Launch of Macroflux Corporation
Macroflux Corporation has raised $75 million in an equity financing to create a new transdermal drug development company. Originally a group within ALZA Corporation, The Macroflux Corporation spin-out is being led by Nomura Phase4 Ventures. The syndicate includes significant investments from New Enterprise Associates (NEA) and funds managed by HBM Partners. The $75M financing will enable the company to progress several product opportunities through clinical development. ALZA Corporation, a wholly owned subsidiary of Johnson & Johnson, will retain an equity stake in the venture.
Macroflux Corporation has 26 employees and will continue to be based in Mountain View, California. Judy Hemberger, the Chief Executive Officer was formerly co-founder and Chief Operating Officer of Pharmion Corporation. Macroflux's Board of Directors will include Jim Barrett, General Partner at NEA, Mike Raab, Partner at NEA, Justin Duckworth, investment advisor at HBM Partners AG, John Brown (previously CEO of Acambis plc) and John Richard (Chairman of Altus Pharmaceuticals Inc). Both John Brown and John Richards are advisors to Nomura Phase4 Ventures.
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