By Allan Maurer

NEWPORT, KY—Xanodyne Pharmaceuticals, a company focused on products for women’s health and pain management, has raised more than half of a round targeted at $75 million, according to a regulatory filing.

According to the filing with the U.S. Securities and Exchange Commission, the company has raised $37,783,864 of a round targeted at $75 million.

The company withdrew a registration to launch an initial public offering of stock in November 2008. It had 2007 revenues of $74.1 million.

In 2005 the company acquired the pain management portfolio of bankrupt aaiPharma, a North Carolina company, for $209.25 million, backed by an equity syndicate led by MPM Capital and Apax Partners, with Perseur-Soros BioPharmaceutical fund and affiliates of AIG Global Investment Group participating.

The company’s existing investors, Healthcare Ventures, Essex Woodlands, Blue Chip Venture Company and Coleman Swenson Hoffman Booth participated.

Blue Chip Venture Company, Essex Woodlands Health Ventures and HealthCare Ventures led the company’s $20 million C round in 2004.

Founded in 2001, Xanodyne markets a portfolio of revenue generating products consisting of prescription pharmaceuticals and a line of prenatal vitamins and is advancing late stage products in its focus areas.

It has products in advanced clinical trials.

The company operates out of 86,000 square foot headquarters on the southern bank of the Ohio River, directly across from Cincinnati.
The company has not yet responded to TechJournal South’s request for more information about the round.

Online: www.xanodyne.com

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