Dublin-based pharmaceutical company Azur Pharma has raised €40m through a private placement of equity.
Azur Pharma was founded in March 2005 and is headed by former Elan executive Seamus Mulligan.
The company plans to develop and market products in specialist therapeutic areas. It intends to build a portfolio of established brands through acquisitions.
As well as Mr Mulligan, Azur Pharma's initial leadership team also includes co-founders David Brabazon and Eunan Maguire. Mr Brabazon most recently worked for the National Treasury Management Agency, while Mr Maguire recently worked for King Pharmaceuticals. Both have also previously worked for Elan.
