Somnus raises series A to advance sleeping pill in Phase II
This article was originally published in Scrip
Somnus Therapeutics, a private US firm developing a delayed-release sleep-maintenance therapy, has raised $15 million in a series A round. The financing was led by CTI Life Sciences Fund with Care Capital, the company's seed investor, also participating.
"The additional infusion of capital will support our SKP-1041 Phase II trial, which we believe is progressing well," said Gary Cupit, chief executive officer of Somnus. Data are expected to be published next year.
SKP-1041 is a new formulation of zaleplon (Wyeth's Sonata), a non-benzodiazepine hypnotic agent, which uses SkyePharma's Geoclock technology for delayed release. The formulation is designed to treat people who have difficulty maintaining sleep but not falling asleep by preventing middle-of-the-night awakening while avoiding residual effects. Other branded non-benzodiazepines include Sanofi-Aventis's Ambien (zolpidem) and Sepracor's Lunesta (eszoplicone).
Somnus was formed specifically by Care Capital to license SKP-1041 in 2007. Somnus entered into an exclusive licence with SkyePharma for the worldwide development and commercialisation of SKP-1041. Under the agreement, SkyePharma will formulate and manufacture the product and Somnus will develop and commercialise it (scripnews.com, June 29th, 2007).