RALEIGH – BioDelivery Sciences International has closed on $50 million in new financing through a stock sale and as part of that deal it has a new board chair as well as two board members.
Broadfin Capital made the investment, acquiring Series B Non-Voting Convertible Preferred Stock. The deal closed Monday.
Broadfin Capital Managing Partner Kevin Kotler joined the board. Broadfin also named pharma industry executives Todd Davis and Peter Greenleaf to the board. Greenleaf assumed the chairmanship role.
Greenleaf is CEO of Cerecor and previously served as the CEO of Sucampo Pharmaceuticals, Inc. through its sale to Mallinckrodt PLC in February 2018.
“I welcome the opportunity to lead the BDSI Board of Directors at a very exciting time in the company’s evolution and behind a new CEO, a newly reconstituted Board, and a significantly strengthened balance sheet,” said Greenleaf in a statement. “I look forward to working collaboratively with the Board and management to build shareholder value and to take the company to the next level.”
