Cancer drug developer Thar Pharmaceuticals adds to series A

Thar Pharmaceuticals has added a $250,000 investment to its series A round as the cancer drug developer looks to continue clinical trials, according to a regulatory document.

Pittsburgh, Pennsylvania-based Thar is aiming for a series A round of up to $9.6 million, CEO Ray Houck said in January. Houck didn’t respond to an inquiry last week, so it’s unknown where the series A now stands. In January, the company had raised $4.3 million for the round.

Thar’s lead product is an oral form of an existing intravenous-only cancer drug, but Houck has declined to reveal more than that. The lead drug candidate is consistent with Thar’s business model of “reinventing” on-the-market IV drugs into orally administered ones. Oral drugs are more convenient for patients and eliminate costs associated with administering drugs intravenously, the company says.

The company is also working to develop drugs for pain, erectile dysfunction, anxiety and migraines.

Thar is looking for bigger, more capital-rich pharmaceutical companies to partner with to develop and commercialize its drugs. It has offices in Pittsburgh and Tampa, Florida.

The $250,000 in funding was sourced from one investor, according to the document.