GEORGETOWN, Texas--(BUSINESS WIRE)--DisperSol Technologies, LLC, has secured commitments for $27 million in equity financing. The funds will go to support the company’s internal product development programs. The financing will enable DisperSol to continue to develop its portfolio of bioavailability enhanced 505(b)(2) drug products. Research Corporation Technologies led the financing with participation from Acadia Woods and other current DisperSol investors.
“We have closely tracked DisperSol’s product development efforts initiated after our successful 2016 financing round,” said Shaun Kirkpatrick, President, Biotechnologies, Research Corporation Technologies. “That development work has resulted in a pipeline that now runs to seven products across multiple stages of development. This pipeline’s best-in-class bioavailability enhancements paired with the market exclusivities generated by the KinetiSol® platform give us confidence that these programs can become successful products for years to come.”
“2018 will find a DisperSol that has three clinical-stage product assets, a handful more in preclinical development and more being actively screened,” said Dr. Edward M. Rudnic, CEO of DisperSol Technologies. “This funding round will see the company complete its transition from a drug delivery technology firm into a balanced company with a solid and growing clinical-stage internal pipeline complemented by multiple external collaborations with pharma.”
In additional news, after an end-of-Phase I meeting with the FDA in February 2018 and a successful full program review, DisperSol 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 DisperSol 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.
KinetiSol® is a best-in-class enabling amorphous solid dispersion formulation technology being used to develop pharmaceutical products of poorly soluble drugs where existing technologies fall short. KinetiSol® can process pharmaceutical materials other technologies cannot and therefore create novel, patent-protected drug compositions that offer substantial performance enhancement and clinical benefits over existing technologies, such as spray drying and hot melt extrusion. KinetiSol® is a patent protected commercial-scale manufacturing method that can generate new market exclusivity for drug products.
DisperSol is a clinical-stage drug development company headquartered near Austin, TX. It is an innovator in the formulation development and manufacture of bioavailability enhanced pharmaceutical formulations of poorly soluble drugs. DisperSol can increase the bioavailability of these drugs in humans and enable the successful formulation of insoluble drugs of significant clinical promise that would otherwise have no development path forward to patients.
DisperSol commercializes its KinetiSol® platform and other technologies through a combination of external partnerships and internal drug development programs. For more information, visit www.dispersoltech.com.