FLORENCE, KY – Xanodyne Pharmaceuticals Inc., a drug company focused on products for women’s health, say it has raised $38 million in a round led by MPM Capital with participation from return backers AIG Investments, Aisling Capital, Blue Chip Venture Co., Essex Woodlands Health Ventures, HealthCare Ventures and Union Springs.

The company also named Michael J. Valentino CEO and president.

TechJournal South first reported the funding on June 1 (see: http://tiny.pl/373j). In a regulatory filing with the U.S. Securities and Exchange Commission, the company identified the current round’s target at $75 million.

Xanodyne has raised a total of about $232 million in VC backing. A 2005 A-1 round of $170 million financed its acquisition of aaiPharma’s pharmaceutical division.

It withdrew its registration for a $86.25 million IPO last fall due to “market conditions.”

New CEO and president Valentino most recently served as President and CEO, Adams Respiratory Therapeutics (NASDAQ: ARXT) and has over 30 years of experience in the healthcare industry, including a broad range of critical leadership positions at major pharmaceutical companies including Alpharma, Novartis AG, Pharmacia/Upjohn and Warner Lambert

Valentino led Adams to what the Wall Street Journal called “the most successful IPO of 2005.”

In a statement, Valentino said he expects the company to bring its two pipeline assets to the U.S. market within the next 12-18 months.

“Our efforts will be focused on aggressively executing our commercialization plans for Zipsor(TM) (diclofenac potassium – acute pain) and XP12B (tranexamic acid – heavy menstrual bleeding),” he said.

Online: www.xanodyne.com

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