Solstice Nets $85 Million

Solstice Neurosciences Inc., a Malvern, Pa.-based drug company whose first product is a botulinum toxin type B, has raised $85 million in Series B equity and debt financing. The breakdown was $50 million in equity and $35 million in debt. Highland Capital Management of Dallas led the deal, and was joined by Series A backers Thomas, McNerney & Partners, Investor Growth Capital Inc., Morgan Stanley Venture Partners and Oxford Bioscience Partners.