The UK's Acacia Pharma has raised £15 million to finance late-stage development of its treatments designed to prevent nausea and vomiting in cancer patients.

The cash was raised through a series B financing led by Fidelity Biosciences and Novo A/S, while current investors Gilde Healthcare and Lundbeckfond Ventures also participated. Specifically, the proceeds will be used to complete Phase III development of APD421, a D2/D3 antagonist for the prevention of post-operative nausea & vomiting and finish Phase II studies of APD403 for the prevention of chemotherapy induced nausea & vomiting.

Acacia noted that the cash will also be used to develop APD515 for the treatment of xerostomia (dry mouth) in advanced cancer patients. Chief executive Julian Gilbert said the company is about to initiate a number of key studies with results being available in 2014.

He added that "the data generated to date in PONV, CINV and xerostomia have been excellent, therefore we look forward to continued success".