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January 30, 2014

CT Innovations adds to Branford pharma investment

Branford’s New Haven Pharmaceuticals has raised $1.6 million from several investors, including Connecticut Innovations, which announced the deal.

The company will use the funds to help it advance its first drug product, Durlaza, which is meant to be a secondary prevention for strokes and acute cardiovascular events.

NHP is also developing stomach acid treatments, using technology licensed from Yale.

CI’s follow-on investment of $361,695 brings its total investment in the company to nearly $1.9 million.

Other investors included EJ Funds, Advantage Capital Partners, Kuzari Group and NHP CEO Patrick Fourteau.

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