Collegium Pharmaceutical takes in $1M debt round

By Mass High Tech staff

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Collegium Pharmaceutical Inc. has taken in $1 million of a planned $2.5 million debt financing round, according to a filing with the U.S. Securities and Exchange Commission.

The funding was called an “inside private financing,” by Steven Tennenbaum, executive vice president, chief financial officer, treasurer and secretary, though he would not comment further on the company’s financial plans.

The Cumberland, R.I.-based private company develops and commercializes drug treatments of skin-related, respiratory and central nervous system disorders, according to the Collegium website.

Collegium closed a $20 million Series D financing in July 2008, led by Frazier Healthcare Ventures, with support from Boston Millennia Partners and Westfield Capital Management. As part of the funding round, Patrick Heron, general partner at Frazier Healthcare Ventures, joined the Collegium board of directors.

Collegium operates a wholly-owned subsidiary, Onset Therapeutics LLC, through which it markets six pharmaceutical products related to wound care and dermatology.

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