North Liberty, IA.-based KemPharm, company focused on the discovery and development of new chemical entities to treat serious medical conditions, today announced the closing of a $3.8m Series B financing round.
The round was led by previous investor DeWaay Investment Partners, a Midwest-based early stage venture fund, alongside KemPharm management and existing and new individual investors, most of whom are clients of DeWaay Capital Management.
The funds will be used to advance both of its following candidates through Phase 1 proof of concept studies:
– KP201, a new chemical entity for the treatment of pain with the possibility of reduced abuse potential (it is based on its proprietary ligand activated therapy platform)
– KP106, which is a novel prodrug candidate in development for Attention-Deficit/Hyperactivity Disorder (ADHD).