Union Springs Pharma receives funding.

Union Springs Pharma receives funding.

by Richard Stump
Posted on 08/19/2009
usp_logoUnion Springs Pharmaceuticals LLC has received more than $5 million in funding from Blue Chip Venture Co. and other venture capital firms, the company said Tuesday.
The Series A financing will allow Union Springs to build its sales and marketing organization, as well as expand into the health care and consumer markets, according to a news release. It also will pursue expansion into the European and Canadian markets. Union Springs, headquartered in Union, Ky., manufactures the Clyns line of infection control products and T-5000 disposable respirators for the EMS, law enforcement, corrections and military markets. The company is headed by Roger Griggs, who foundedXanodyne Pharmaceuticals, a specialty drug company headquartered in Newport, that also received venture funding from Blue Chip. Jack Wyant, Blue Chip managing partner, said Union Springs meets the venture capital firm’s criteria, including an executive team that’s “highly ethical, passionate and strategic.”
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