Velicept raises another $15M to advance overactive bladder treatment

Velicept Therapeutics said Tuesday it raised an additional $15 million through an expansion of its series B financing. The Malvern pharmaceutical company plans to use the funding to support the completion of two mid-stage clinical trials of its lead new drug candidate Solabegron, which it is developing as a treatment for people with overactive bladders. Dr. James Walker, president and CEO of Velicept, said the fu nding will also enable the company to prepare for phase-III clinical studies — the…
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