Topaz Pharmaceuticals Receives $20 million Series A Financing

PHILADELPHIA--()--Topaz Pharmaceuticals Inc., a pharmaceutical company dedicated to the health and well being of children, today announced that it has secured $20 million in Series A financing from Aisling Capital (New York) and Fidelity Biosciences (Boston). The funds will be used to help Topaz complete clinical trials of the companys new prescription medicine to fight head lice, and prepare the product for market.

Topaz is developing its lead product to give healthcare professionals a new choice to treat head lice infestations which are becoming more resistant to some traditional treatments. Between 6 and 12 million children are affected by head lice in the United States each year.

This round of funding is a significant milestone in the evolution of Topaz Pharmaceuticals Inc., said Nick Spring, Topaz Pharmaceuticals president and chief executive officer. Aisling Capital and Fidelity Biosciences are the types of partners that fully understand the medical significance of our offering.

This latest round of funding was conducted with financial advice from Seaview Securities LLC and advised by Fox Rothschild LLPs Technology and Venture Finance Group.

About Topaz Pharmaceuticals

Topaz Pharmaceuticals Inc., an early stage company, intends to develop a range of pediatric medicines. Its initial lead product is a novel and kid friendly formulation of an active ingredient derived from a naturally occurring soil organism that is lethal to head lice. Topaz initially benefited from support provided by the Ben Franklin Technology Partners of Southeast Pennsylvania. For more information about Topaz Pharmaceuticals Inc. please visit www.topazpharma.com.

Contacts

Garfield Group Public Relations
Lisa Bien, 215-867-8600 ext. 247
LBien@GarfieldGroup.com

Contacts

Garfield Group Public Relations
Lisa Bien, 215-867-8600 ext. 247
LBien@GarfieldGroup.com