MAP Pharmaceuticals, Inc., a leading developer of novel inhaled drug therapies, today announced the closing of a $25.25 million Series C preferred stock financing with several top-tier biotechnology investors. Proceeds from this financing will be used primarily to advance the Phase II clinical development of the company's two lead drug candidates for the treatment of asthma and migraine. The financing was led by Brookside Capital, an affiliate of Bain Capital. All of MAP Pharmaceuticals previous investors including the Perseus-Soros Biopharmaceutical Fund (PSBF); Pequot Ventures, the private equity arm of Pequot Capital Management, Inc.; Bay City Capital and Skyline Ventures were significant investors in the round.
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