Milestone raises $17 million for Phase 2 development of intranasal calcium channel antagonist

Milestone Pharmaceuticals has raised $17 million in a Series B financing round, the company said. According to the company, it will use the money for Phase 2 clinical development of MSP-2017, its intranasal calcium channel antagonist for the treatment of paroxysmal supraventricular tachycardia (PSVT).

In November 2014, Milestone announced positive Phase 1 results for MSP-2017, which is intended for home treatment of PSVT episodes.

Milestone CEO Philippe Douville said, “We’ve made great progress since our Series A financing with advances on nasal formulations resulting in novel IP, completion of preclinical work, positive Phase 1 results, and filing of an IND.”

Read the Milestone Pharmaceuticals press release.