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.
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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.