Biomarck Pharmaceuticals Ltd. Raises $4 Million
BioMarck Pharmaceuticals, a Research Triangle Park drug development company, raised $ 4 million through private placement financing. The financing together with prior National Institutes of Health grants is intended to provide sufficient funds to complete a Phase II, proof of concept clinical study, says Allen F. Gant, Chairman and CEO.
Raleigh, NC (PRWEB) August 7, 2007
BioMarck Pharmaceuticals, a Research Triangle Park drug development company, raised $ 4 million through private placement financing. The financing together with prior National Institutes of Health grants is intended to provide sufficient funds to complete a Phase II, proof of concept clinical study, says Allen F. Gant, Chairman and CEO.
The North Carolina-based company filed an IND with the FDA in December, 2005 and is clinically testing its first-in-class, novel treatment for respiratory diseases associated with mucus hyper secretion and inflammation. The BioMarck technology will address a variety of pulmonary diseases, including COPD, asthma and chronic rhinitis, and possibly sinusitis and cystic fibrosis. Each of these market segments have clear needs for a new and effective drug. The world-wide sales of COPD therapeutics is expected to reach $19 billion by 2009 with asthma representing a further $9 billion. In the USA alone, COPD is the fourth leading cause of death, claiming over 120,000 lives per year.
The new product is based on scientific concepts developed by Dr. Kenneth Adler, a Professor of Cell Biology at North Carolina State University. Dr. Adler was awarded the Scientific Achievement Award at a 10,000 member meeting of The American Thoracic Society for his research aiding the understanding, prevention, and treatment of lung diseases.
BioMarck expects to market the drug by partnering with a pharmaceutical company with a significant presence in the respiratory field. For more information regarding BioMarck, please visit their website at www. biomarck. com.
For more information contact:
BioMarck Pharmaceuticals, Ltd.
7200 Falls of Neuse Road, Suite 202
Raleigh, NC 27615
Forward-looking statements:
This release and other information delivered to you by BioMarck might contain forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "may," "might," "could," "will," "would," "expect," "plan," "believe," "estimate," "predict," "plan," "intend," "goal," or the negative of such terms or other similar expressions. Forward-looking statements reflect our current expectations and views about future events as of the time we published these documents. The forward-looking statements involve known and unknown risks, uncertainties and other factors that might cause our actual results to be materially different from any future results expressed or implied by the forward-looking statements. Given these risks and uncertainties, you should not place undue reliance on any such forward-looking statements. In addition, the information delivered in this release is believed to be accurate as of the date hereof, but should not necessarily be relied upon to reflect management's current views at any future date.
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