Acacia Pharma closes cancer-drugs funding round

Acacia Pharma, a pharmaceutical company specialising in the development of drugs for cancer supportive care, has successfully closed a funding round, raising a total of $10m (£6.2m).

New investor Lundbeckfond Ventures joins Gilde Healthcare in this Series A financing.

Acacia Pharma will use the proceeds to complete Phase II development of its two lead product opportunities, APD421 for the prevention of nausea and vomiting in post-surgical patients and APD515 for the treatment of xerostomia (dry mouth) in advanced cancer patients.

As a consequence of the investment, associate professor Johan Kördel of Lundbeckfond Ventures will join the board of Acacia Pharma.