A Philadelphia-area pharmaceutical company developing innovative treatments for bone disorders has raised fresh capital, likely working toward the commercialization of an osteoporosis treatment.
Zelos Therapeutics has raised $2.8 million, according to a recent filing with the Securities and Exchange Commission. President and CEO Brian MacDonald was not available to comment on the fund-raise.
The company’s leading drug candidate is ZT-031, for the prevention of vertebral fractures in postmenopausal women. In July 2008, the company received the go-ahead from the U.S. Food and Drug Association to proceed with a 24-month Phase 3 clinical trial for the drug. It is also developing a nasal spray osteoporosis treatment to compete with Eli Lilly’s Forteo.
Zelos is a spin-out of the National Research Council Canada and was established in 2000. The company has raised more than $70 million from investors including Alta Partners, Prospect Ventures, VenGrowth Capital, Seaflower Ventures and Genesys Capital.
By Deanna Pogorelc MedCity News
Deanna Pogorelc is a Cleveland-based reporter who writes obsessively about life science startups across the country, looking to technology transfer offices, startup incubators and investment funds to see what’s next in healthcare. She has a bachelor’s degree in journalism from Ball State University and previously covered business and education for a northeast Indiana newspaper.More posts by Author
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