IOWA CITY, Iowa — KemPharm, which focuses on developing drugs that are harder to abuse, has raised close to $3.5 million, according to a filing with the Securities and Exchange Commission.
The 3-year old company’s focus is to develop new, safer medicines for the treatment of attention deficit/hyperactive disorder ADHD, pain and cardiovascular disease. DeWaay Capital Management provided the funding, which will be used to formulate KemPharm’s lead drug, KP106, and advance other products in the earlier stages.
KP106 is based on existing ADHD medication Vyvanse. But KemPharm’s drug has a slower release system in the body, which makes it last longer, and the company claims there are fewer chances of heart problems.
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Plus, the drug tries to be abuse-proof. If not taken as directed (orally), KP106 won’t release the parent drug. That restricts a high achieved from recreationally snorting or injecting the medication.
KemPharm is developing the drug for adults and children. The company want to start Phase 1 studies by early 2010, according to an online fact sheet (pdf).
