Zosano Adds $45 Million

Zosano Pharma Inc. of Fremont, Calif. has raised the $45 million second tranche of its Series A funding, for a round total of $90 million. Participants included New Enterprise Associates, Nomura Phase4 Ventures, HBM BioVentures and ProQuest Investments. The company was founded last year as a Johnson & Johnson Internal Ventures spinout from the ALZA Co. to work on several product opportunities based on the company's transdermal microprojection delivery system. It was initially named The Macroflux Corp.

PRESS RELEASE

Zosano Pharma, Inc., an emerging specialty pharmaceutical company focused on developing better pharmaceutical products using innovative drug delivery, has announced the receipt of the second half of its initial venture funding of $45 million, for a total investment of $90 million. Four venture capital firms, New Enterprise Associates (NEA), Nomura Phase4 Ventures, HBM BioVentures and ProQuest Investments, participated in this final close.

“This second closing supports our continued progress with Zosano's lead program, a PTH patch for treating osteoporosis, which is currently in Phase 2 development,” said Cory Zwerling, Zosano's Chief Executive Officer. “Our PTH development program is on track and we are also moving other Zosano activities forward.”

Zosano's Macroflux