LAUNCH OF MACROFLUX CORPORATION IN $75 MILLION SPIN-OUT FROM JOHNSON & JOHNSON

Macroflux Corporation has raised $75 million in an equity financing to create a new transdermal drug development company. Originally a group within ALZA Corporation, The Macroflux Corporation spin-out is being led by Nomura Phase4 Ventures, a specialist investor in healthcare. The syndicate includes significant investments from New Enterprise Associates (NEA) and funds managed by HBM Partners. The $75M financing will enable the company to progress several product opportunities through clinical development. ALZA Corporation, a wholly owned subsidiary of Johnson & Johnson, will retain an equity stake in the venture.

BioSpace (http://www.biospace.com/news_story.aspx?StoryID=32590&full=1)