EUSA raises over $50mm to fund acquisition

Specialty pharmaceuticals company EUSA Pharma (focuses on cancer and pain control) raised over $50mm through a private financing that was led by TVM Capital and included participation from existing backers Essex Woodlands, 3i, Goldman Sachs, Advent Venture Partners, SV Life Sciences, NeoMed, and NovaQuest. The company will use the proceeds to finance its recently announced acquisition of Cytogen, a public company that also develops and sell products for the oncology and pain markets. Completion of the financing is contingent upon the closing of the acquisition.