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Biomarck Pharmaceuticals Ltd. Raises $4 Million
Added: 09/01/2007
 Type: Summary
 Viewed: 469 time(s)
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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.

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.
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