Diabetes drug developer Lumena raises $2.5M; compound regulates blood sugar
RESEARCH TRIANGLE PARK, NC – Diabetes treatment developer Lumena Pharmaceuticals has secured the $2 million it needs to start clinical trials and a little bit extra for good measure. The company’s first round of investment was oversubscribed, leading to a haul of $2.5 million, according to amended filings made with the Securities and Exchange Commission. Lumena’s investors are venture capital firms Pappas Ventures and RiverVest Venture Partners. The new capital means the company can proceed to human tests for its novel type 2 diabetes treatment, which aims to develop a pill to...
Read MoreAcorda buying Morrisville, NC-based Neuronex
MORRISVILLE, NC - New York-based neurological drug companyAcorda has struck a deal to acquire Morrisville-based Neuronex for around $9 million – a figure that could increase by $26 million based on potential milestone payments. Under the terms of the agreement, Acorda made an upfront payment of $2 million to Neuronex and paid $500,000 of up to $1.2 million in research funding for a nasal application of epilepsy treatment diazepam. Neuronex is preparing a new drug application for the proprietary nasal spray formulation of diazepam. Following the pre-NDA meeting, Acorda has an option...
Read MoreBioCryst Announces Promising Results from Preclinical Studies of BCX5191 for Hepatitis C
RESEARCH TRIANGLE PARK, N.C.–BioCryst Pharmaceuticals, Inc. (NASDAQ: BCRX) today announced favorable preclinical results for BCX5191, a novel adenine nucleoside analog targeting viral RNA polymerase for the potential treatment of hepatitis C. BioCryst has successfully completed in vitro and in vivo studies in which BCX5191 exhibited potent and selective pan-genotypic antiviral activity against the hepatitis C polymerase enzyme. BCX5191 showed no inhibition of human RNA polymerase and no evidence of toxicity from standard in vitro screens. Human liver cells rapidly and efficiently...
Read MoreDurham biopharma sold for $40M
DURHAM, NC - Durham’s Aldagen, a biopharmaceutical company developing therapeutics for tissue repair and regeneration, has been bought by Cytomedix Inc., a similar company in Gaithersburg, Md. Aldagen employs 14 in Durham and will keep manufacturing and product development facilities there. Depending on potential milestones, the deal could be worth around $40 million. At closing, Aldagen shareholders received Cytomedix shares and will own 17 percent of that company. As part of the transaction, some investors in Aldagen, which was backed by Durham-basedIntersouth Partners, bought $5...
Read MoreTearScience Achieves FDA Clearance for Second Generation LipiFlow® Thermal Pulsation System
MORRISVILLE, N.C.,— TearScience, Inc., a privately-held medical device company, today announced that it has received U.S. Food and Drug Administration (FDA) clearance for its next generation product of its LipiFlow® Thermal Pulsation System , a medical device that treats evaporative dry eye by liquefying and evacuating obstructions in meibomian glands located in the eyelids. The second generation product includes a more robust graphical user interface and provides the ability for physicians to treat both of a patient’s eyes simultaneously. The new LipiFlow® console incorporates an...
Read MoreTranzyme Pharma lands $9M in debt financing
RESEARCH TRIANGLE PARK, NC - Tranzyme Pharma (Nasdaq:TZYM), a drug development company, on Wednesday announced that it has landed an additional $9.3 million in debt financing from Oxford Finance LLC and Horizon Technology Finance Corp. (Nasdaq:HRZN). Vipin K. Garg, president and CEO of Tranzyme, says the money will help Tranzyme take one of its drugs to a new drug application later this year. Because of research and development costs, Tranzyme typically reports net operating losses. Through the first nine months of last year, it reported $13.1 million in...
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