DisperSol Technologies, a Georgetown, Texas-based clinical-stage drug development company, raised $27m in equity financing.
The round was led by Research Corporation Technologies with participation from Acadia Woods and other current investors.
The company intends to use the funds to continue to develop its portfolio of bioavailability enhanced 505(b)(2) drug products.
Led by Dr. Edward M. Rudnic, CEO, DisperSol Technologies is is an innovator in the formulation development and manufacture of bioavailability enhanced pharmaceutical formulations of poorly soluble drugs. The company is initiating phase II trials of DST-0509, a formulation of the iron chelator, deferasirox, for the treatment of the rare disease, iron overload disorder. The phase II trials are examining the benefit of the superior bioavailability of DST-0509 (seen in phase I) in iron overload patients who are refractory to treatment with Exjade® and Jadenu®.
Two additional products in development will enter the clinic in 2018:
– DST-2970, an enhanced formulation of abiraterone for the treatment of cancer, is scheduled to begin phase I trials in Q3 2018,
– DST-9265, an ANDA generic product, is scheduled for a pilot biostudy in Q2 2018.