MAP to push drugs into Phase II

San Jose, CA-based MAP Pharmaceuticals has raised $25.5 million in its third round of venture capital. Most of the money is earmarked for pushing the development of new therapies for asthma and migraine into Phase II trials. The financing was led by Brookside Capital, an affiliate of Bain Capital. All of MAP Pharmaceuticals previous investors were significant investors in the round. This includes the Perseus-Soros Biopharmaceutical Fund, Pequot Ventures (the private equity arm of Pequot Capital Management) and Bay City Capital and Skyline Ventures. Alexandria Real Estate Equities also participated.

- read this press release for more information

ALSO: Several drug developers in Connecticut were on the receiving end of a surge in venture capital financings in the fourth quarter. Aegerion Pharmaceuticals and Achillion Pharmaceuticals won new rounds, according to the MoneyTree Survey of venture capital. Report