Alexza Molecular Delivery raises $52 million second round

Jan. 6, 2005 — Alexza Molecular Delivery Corp., a Palo Alto, Calif., developer of a novel drug delivery technology, announced today the completion of a $52 million second round of institutional funding.

The company issued Series D preferred shares. Alloy Ventures and Delphi Ventures led the round. New investors included Abingworth Bioventures, MDS Capital, Pacific Rim Ventures, T. Rowe Price and WestRiver Capital. Previous investors who also participated include Alejandro Zaffaroni, Frazier Healthcare, Versant Ventures, 5AM Ventures, Burrill & Co., CMEA Ventures, New Enterprise Associates and clients of the Zesiger Capital Group. Montgomery & Co. LLC served as the exclusive placement agent for the company.

The funds will be used to accelerate the development of the company’s product candidate portfolio and to further expand its technology base. The company plans to have four product candidates in clinical trials during 2005.

Alexza’s technology platform, known as Staccato, rapidly delivers drugs to the body and brain by mimicking the effect of smoking. A small device modeled after a cigarette vaporizes and releases a drug upon inhalation by the patient.

The firm previously raised $45 million 2002. Along with the current round, it appointed Deepa Pakianathan of Delphi Ventures and Leighton Read of Alloy Ventures to its board of directors.


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