Arbor receives $35 million in financing
ATLANTA Drug maker Arbor Pharmaceuticals has obtained nearly $35 million in financing, the company said Thursday.
Arbor said the $34.8 million included a $17.5 million investment in the form of Series B Preferred Stock, mostly from Signet Healthcare Partners, while the rest was in the form of a loan provided by investors, as well as portions of the loan and investment from existing shareholders. The company markets drugs for such indications as nasal hygiene and dermatitis.
“We are pleased with the commitment to Arbor demonstrated by our Series B investors,” Arbor president and CEO Ed Schutter said. “We have already completed several product license or acquisition agreements in the six months since the acquisition of Arbor by our original investment team and expect to use this funding to acquire other products.”