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Xanodyne Raises $25 Million

Xanodyne Pharmaceuticals Inc., a Florence, Ky.-based drug company, has raised $25 million in additional Series A-1 recap funding. Return backers included Aisling Capital, Apax Partners, Blue Chip Venture Co., Essex Woodlands Health Ventures, HealthCare Ventures and MPM Capital. Xanodyne originally raised around $170 million for the Series A-1 round in mid-2005 at a post-money valuation of approximately $254 million. That deal helped finance the $210 million acquisition of aaiPharma’s pharmaceutical division out of bankruptcy.