Braeburn Pharmaceuticals Invests $110 million led by Wellington Capital Management

Braeburn Pharmaceutical asserts completion of its $110- million mezzanine financing among a few others like Avista Capital Partners, RA Capital Management, New Leaf Venture Partners, Deerfield Management, and Rock Springs Capital. Apple Tree Partners has been entitled as its lone investor till date also partook. With the aid f the FDA Approval process, Braeburn initiates to commercialize CAM2038, an investigational buprenorphine weekly and monthly depot injection for the treatment of adults with OUD.

Mike Derkacz, President and CEO of Braeburn stated “With opioid overdose now the leading cause of death among Americans under the age of 50, at Braeburn we are committed to playing our part by advancing new weekly and monthly medication-assisted treatments (MAT) to help support the recovery of people and their families devastated by opioid use disorder.”

According to the Substance Abuse and Mental Health Services Administration, 11.6 million adults misused opioids in the U.S. yet only 1.1 million received MAT and According to the chair of the American Medical Association’s Opioid Task Force, only 20 percent of those who need treatment are being addressed.

November 1, 2017 signaled the approval of CAM2038 for the treatment of adults with OUD on the recommendation of the FDA’s Psychopharmacologic Drugs Advisory Committee and the Drug Safety and Risk Management Advisory Committee based on a review of results from a clinical trial program that included seven Phase 1-3 clinical trials in patients with OUD, including a pivotal Phase 3 efficacy and a long-term safety study.