A pharmaceutical company reformulating intravenous drugs into orally administered medication is raising a little more than $2 million to advance a cancer drug, according to an amended Form D filing with the U.S. Securities and Exchange Commission.
Its CEO Ray Houk told MedCity News last year that it was seeking $9.6 million to move its lead product candidate, a reformulated cancer drug, through Phase 2 clinical trials. As of January it had raised $6.8 million since it was founded in 2008. Its website does not detail the types of cancer for which it is intended.
Thar’s strategy reflects the broader efforts by larger pharmaceutical companies to find new ways to add to their extend patent exclusivity. In addition to reformulation, companies have adopted other strategies such as new drug combinations and extended release drugs that take longer to work their way through the body, and often means they can be taken less often, which is particularly useful for pain management drugs.
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