In the wake of postponing its IPO, SEC filings show Carbylan Therapeutics just raised $4 million in debt.
The Palo Alto pharma was founded in 2004 is developing an injection that can treat joint pain associated with osteoarthritis. It chemically engineers biopolymers with hyaluronic acid as a localized drug delivery system.
Late last year Carbylan filed a $93 million IPO, with plans to hit the market in early February. Four other companies delayed their IPOs that week – compared to none last year, the Silicon Valley Business Journal reports.
