Turing Pharmaceuticals, which is developing intranasal oxytocin for several indications has announced the completion of $90 million Series A financing round led by its Founder and CEO, Martin Shkreli. According to Turing, “the financing included participation from multiple preeminent institutional equity investors,” but none were named. Retrophin divested intranasal oxytocin and intranasal ketamine to Turing, which officially launched in February 2015.
Shkreli commented,“We are very happy with the institutional interest in our first capital raise. It’s a great reflection on our business model and the collective track record of our leadership team developing breakthrough treatments for serious diseases. We plan to accelerate clinical trials for several treatments and are pleased to announce an immediate addition to our portfolio. We look forward to the continued execution of our plan to bring new treatments for serious diseases to patients, helping us maximize shareholder value.”
Read the Turing press release.
