Collegium closes on $20M equity financing round

CUMBERLAND – Collegium Pharmaceutical Inc. said last week that it has closed a $20 million Series-D round of equity financing. Led by Frazier Healthcare Ventures, it also includes return investors Boston Millennia Partners and Westfield Capital Management.
The company said the proceeds will be used primarily to continue developing its lead DETERx product candidate, COL-003, a tamper-resistant, sustained-release formulation of the opioid analgesic oxycodone. Collegium has an active investigational new drug application on file for COL-003 with the U.S. Food and Drug Administration and intends to file a new drug application, and it has received fast-track designation from the FDA.
Collegium said it has successfully completed a proof-of-concept clinical trial and has done extensive laboratory testing of the product’s tamper-resistant properties.
Upon closing this round, Frazier’s general partner, Patrick Heron, has joined the Collegium board. •