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Last updated on April 25, 2014 at 1:22 EDT

Acacia Pharma Closes $10 Million Investment Round

March 31, 2011

CAMBRIDGE, England, March 31, 2011 /PRNewswire/ –

– Funds to be Used to Complete Two Phase II Programmes

Acacia Pharma, a pharmaceutical company specialising in the development
of drugs for cancer supportive care, announces it has successfully closed a
funding round, raising a total of $10 million. New investor Lundbeckfond
Ventures joins Gilde Healthcare in this Series A financing.

Acacia Pharma will use the proceeds to complete Phase II development of
its two lead product opportunities, APD421 for the prevention of nausea &
vomiting in post-surgical patients and APD515 for the treatment of xerostomia
(dry mouth) in advanced cancer patients. As a consequence of the investment,
Associate Professor Johan Kordel of Lundbeckfond Ventures will join the Board
of Acacia Pharma.

Julian Gilbert, Acacia Pharma’s CEO said, “I am delighted to welcome
Lundbeckfond Ventures to the company and thank Gilde Healthcare for their
continued support. These new funds allow the company to drive its lead
programmes forward to achieve significant clinical milestones as efficiently
as possible.”

Johan Kordel of Lundbeckfond Ventures added, “Acacia Pharma has an
experienced team and an innovative and resource efficient approach to
developing several products meeting unmet medical needs in the underserved
cancer supportive care area. Acacia Pharma fits well with our investment
strategy.”

Pieter van der Meer of Gilde Healthcare commented, “We are pleased to
offer continued support to Acacia Pharma. The company has developed a broad
pipeline of product opportunities, all of which being tested in the clinic.
We anticipate a bright future for the company and its shareholders.”

About Acacia Pharma

Acacia Pharma (http://www.acaciapharma.com) is a pharmaceutical company
focused on cancer supportive care, a rapidly developing commercial
opportunity. The growth in the cancer supportive care market has been driven
by the increasing incidence of cancer, the expansion of effective cancer
therapies and the desire to improve both the effectiveness of treatment and
the quality of life of cancer patients.

Acacia Pharma has generated a pipeline of product opportunities
addressing a range of supportive care indications such as nausea & vomiting,
xerostomia and cachexia using a commercially driven approach to product
discovery based on known drugs. This strategy leads to product opportunities
with a higher probability of success and enables rapid clinical proof-of
concept. In addition, Acacia Pharma’s products are expected to reach the
market quickly given that they are based on the novel use of
well-characterised pharmaceuticals.

Acacia Pharma is led by an experienced management team who have already
successfully built and exited a number of life sciences companies.
Management, Gilde Healthcare and Lundbeckfond Ventures are the Company’s key
shareholders. Acacia Pharma is based in Cambridge, UK.

About Lundbeckfond Ventures

Lundbeckfond Ventures (http://www.lundbeckfondventures.dk) is an open and
evergreen life science venture fund investing in companies primarily in
Europe, but selectively also in the US. It is financially driven and invests
in late stage drug discovery and development, as well as in medtech and
diagnostics. Lundbeckfond Ventures is part of the asset management subsidiary
of the Lundbeck Foundation which in addition to substantial financial assets
has majority or significant ownerships in H. Lundbeck A/S, ALK-Abello A/S and
Falk A/S.

About Gilde Healthcare Partners

Gilde Healthcare Partners (http://www.gildehealthcare.nl) a transatlantic
venture and growth capital firm, is headquartered in Utrecht, the Netherlands
in Utrecht. It has over EUR400 million under management and is actively
looking to lead new investments in therapeutics, diagnostics, medical devices
and enabling technologies. Gilde can invest up to EUR15 million in a company.
Gilde is a successful builder of healthcare businesses across Europe. By
investing in companies with clear achievable business models, Gilde has used
its financial resources and network to create significant value for both its
investors and the entrepreneurs it backs. For a list of Gilde’s portfolio
companies please visit the website.

    Contacts

    Acacia Pharma
    Julian Gilbert
    Telephone: +44-1223-875132

    Citigate Dewe Rogerson
    David Dible
    Mark Swallow
    Telephone: +44-20-7638-9571

    Lundbeckfond Ventures
    Johan Kordel
    Telephone: +45-39-12-80-00

    Gilde Healthcare Partners
    Pieter van der Meer
    Telephone: +31-30-219-25-36

SOURCE Acacia Pharma


Source: newswire