Aprecia Pharmaceuticals Company, Inc. is specializing in 3D printed prescription medicine. It announced today a completed $35 million preferred stock financing led by Deerfield Management Company LP, and JW Asset Management also contributed. Outstanding convertible debt was converted into preferred stock.
Aprecia is working directly with inVentiv Health to market the commercialization of SPRITAM, its new formulation of levetiracetam, which is a well-established medication used by patients with epilepsy. The drug is designed to be put in the mouth, and once it disintegrates within a few seconds, it can then be swallowed with a small amount of liquid. The concept is centered around the fact that this form of the drug will be much easier to take, which will be especially beneficial for children or those who have a hard time swallowing pills and capsules.
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The financing will go toward moving forward with that as well as the development of other 3D printed drugs the company is creating with its ZipDose Technology platform.
SPRITAM is the first 3D printed medication to be approved by the FDA and is expected to be commercialized within the next three to six months, according to a company statement from Don Wetherhold, CEO of Aprecia.
Photo: Screenshot via Aprecia Pharmaceuticals
