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Financings Roundup

Alkermes Spin-off Civitas Launches with $20M Series A

By Catherine Shaffer

Monday, January 10, 2011
Civitas Therapeutics Inc., a new spinout from Alkermes Inc., is off to a good start with $20 million in Series A financing from its founding investor Longitude Capital and co-lead Canaan Partners. Civitas, of Chelsea, Mass., is born of Alkermes' pulmonary delivery technology with pipeline assets and commercial-ready manufacturing facilities. Alkermes retains a significant equity position in the new biotech.

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