Cedarburg Pharmaceuticals Raises $3.5 Million in Series A-3 Financing
Cedarburg Pharmaceuticals received $3.5 million in preferred stock financing. Investors included Sanders Morris Harris Group and Alfred Bader, founder of Aldrich Chemical. In addition, Cedarburg received European approval to market cancer pain relievers Fentanyl Base and Fentanyl Citrate.
Grafton, WI (PRWEB) February 13, 2007 -- Cedarburg Pharmaceuticals, Inc., a drug process development and API provider, today announced that it has raised a total of $3.5 million in the company's Series A-3 (fourth round) of preferred stock financing.
Participants in the latest round include asset management company Sanders Morris Harris Group and Alfred Bader, founder of Aldrich Chemical (now Sigma Aldrich). Cedarburg has raised $18.8 million to date since its founding in 1997.
"This new round of investment demonstrates tremendous confidence for Cedarburg's ability to bring value to the marketplace in the form of making the drug development and scale up process easier for our customers" said Thomas Groble, Chief Operating Officer of Cedarburg. "The funding will be used primarily to expand our capabilities to meet the needs of virtual pharma companies".
Cedarburg recently received European approval to market cancer pain relievers Fentanyl Base and Fentanyl Citrate. The company holds Drug Master Files for both Fentanyl compounds in the U.S. as well as DEA Schedule I through V licenses and permits for controlled substances.
About Cedarburg Pharmaceuticals
Cedarburg Pharmaceuticals is a value-driven commercial and clinical API provider. We define value as making life simpler for our customers. That means understanding our customers' needs and exceeding their expectations through transparent project management and resourcefully applying our expertise in process development, validation, scale-up and analytical method development. Backed by full cGMP compliance and QA oversight, our experience and flexibility enable us to succeed where others fail. For more information, please visit us online at www.cedarburgpharma.com.
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