Forest Laboratories has provided Trevena with a $30m investment, in a deal that will see the pair jointly develop and trial a clinical-stage acute heart failure drug candidate.
Under the deal, Forest Labs could pay Trevena an additional up to $430m for an exclusive worldwide marketing option.
The investment was part of a $60 million series C funding round with the help of Trevena’s existing venture syndicate.
New Enterprise Associates, Polaris Venture Partners, Alta Partners, Healthcare Ventures and Yasuda Economic Development Corporation all chipped into the round and backed a $35m round three years ago.