Research Triangle Park-based CoLucid Pharmaceuticals raised another $1.5 million recently to bring its latest round of fundraising to $3.5 million, according to a Tuesday filing with the Securities and Exchange Commission.
The drug development company could raise up to $9.5 million, according to the filing. But the company says it wants to raise $6.5 million to continue developing its research, according to the Triangle Business Journal.
CoLucid specializes in developing therapies for central nervous system disorders. It is working on a migraine headache treatment that could offer relief without the blood-vessel-constricting side effects associated with traditional migraine drugs. The company completed phase 2 clinical trials for the drug and plans to start phase 3 trials this year.
