TesoRx Pharma, LLC, a Menlo Park, CA-based specialty pharmaceutical company focused on developing and commercializing products in specialty and niche markets, closed $10m Series B-1 funding from existing and new private investors.
The funding will be used to prepare for Phase 3 trials for TSX-002, an oral formulation of unmodified testosterone, to advance its pipeline and build out its commercial manufacturing facilities. In conjunction with the financing, TesoRx hired Dr. Michael Oefelein to lead clinical development operations and regulatory strategy for TSX-002 and other programs. Dr. Oefelein will be also responsible for overseeing data collection, interpretation and presentation of the clinical studies.
He will represent and manage the company clinical programs with regulatory agencies, investors and corporate partners and lead Clinical Quality Management activities for TesoRx.
Founded in 2010 by CEO Dr. Ramachandran “TR” Thirucote, Mr. Willem A Robberts and Dr. Guru Betageri, TesoRx has just received notices of allowed claims in Europe and the U.S. that are directed to enteric coated proliposomal dosage forms of testosterone for novel aspects of the TSX-002 formulation. When the respective European and U.S. patents issue with these allowed claims in the fall of 2014, they will join with previously-issued Australian and Canadian patents that contain similar claims, and will complement the company’s licensed international and U.S. patent applications filed in 2013-