Civitas Therapeutics Brings Fundraising Total to $118M
August 27, 2014
Civitas Therapeutics has raised a $55 million Series C round from a host of investors including Canaan Partners, Sofinnova Ventures, Bay City Capital and OrbiMed Advisors, among others. The financing brings the total capital raised by the biotherapeutics company to $118 million. It is also Civitas' second financing within a year, the other being a $38 million Series B raised at a valuation of over $136.5 million. Civitas will put the funding toward the phase 3 clinical trials for its lead candidate CVT-301, an inhaled formulation of levodopa being developed for rapid and reliable relief from debilitating motor fluctuations associated with Parkinson's disease.