Vapogenix Inc. said yesterday that it raised $8.2 million in a Series C financing round to fund the development of its locally-acting painkiller. Pamoja Capital and a group of pain physicians led the round.
The Houston, Texas-based company’s technology is a topical formulation of volatile anesthetics, which are normally inhaled as general anesthesia. Vapogenix has developed volatile anesthetic-based topical gels and liquids to treat wounds, combat-related injuries, osteoarthritis, and muscular and inflammatory conditions. The funding will support a phase II proof-of-concept study of the topical painkiller, which Vapogenix anticipates will begin next year.
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