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Flexion Therapeutics Inc. has closed a first round of venture capital financing worth $42 million. The company also announced that it has acquired four potential drugs from large pharmaceutical companies.
The Woburn-based biotechnology company said that Pfizer’s venture capital group topped off Flexion’s Series A financing round. In October, the company announced that it had raised $33 million, led by California-based Versant Ventures and including 5AM Ventures, which has offices in Waltham and Menlo Park, Calif., as well as Paris-based Sofinnova Partners.
The company also announced deals to in-license one drug target from UK-based AstraZeneca plc, one from Merck Serono SA, a division of Merck KGaA, based in Darmstadt, Germany and two other clinical compounds from an undisclosed pharmaceutical partner. The potential drugs will target inflammatory diseases, including arthritis.
Financial terms were not disclosed, but the agreements include milestone payments and royalties if the drug targets are successful.
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