TransOral Raises $40 Million

TransOral Pharmaceuticals Inc., a Point Richmond, Calif.-based CNS drug company, has raised $40 million in Series D funding. New Enterprise Associates led the deal, and was joined by return backers New Leaf Venture Partners, Montreux Equity Partners, InterWest Partners, Hamilton BioVentures, Vivo Ventures and Peninsula Equity Partners. TransOral's first product is designed to help treat insomnia in patients who awaken in the middle of the night and have difficulty returning to sleep.