Yaupon Therapeutics, a very well-renowned pharmaceutical company, raised $14.4 million in a private stock sale this past Thursday. The move means good things for their future development of a drug for lymphoma, industry experts say.
The Malvern, PA business which specializes in all things pharmaceutics went about the Series D round of sales including investors from Vivo Ventures, Palo Alto Investors and Burrill & Co., and Aperture in the proceedings. Heightened interest in ownership of the company’s stock indicated a particular enthusiasm about the direction of future plans and investor morale.
Just one month ago, Yaupon submitted a new drug application with the Food and Drug Administration (FDA) for their proprietary gel formation of mechlorethamine hydrochloride. The gel was developed as a potential treatment for early stages of mycosis fungoides, the most common type of cutaneous T-cell lymphoma – a form of non-Hodgkin’s lymphoma.
“This financing provides us with the necessary capital to take us through the NDA regulatory review process, while preparing for commercialization either alone or with an industry partner,” said Stephen Tullman, Yaupon’s chairman and CEO.
As it stands, Mycosis fungoides impacts approximately 16,000 Americans ever year. Its cause, currently, remains unknown and there is no recognized cure.
