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CTD Holdings (OTCQB: CTDH), a clinical stage biotechnology company that develops cyclodextrin-based products for the treatment of disease with unmet medical need, today announced that it has closed a private placement of its securities with a group of accredited investors that included several directors of the Company and members of management. As quoted in the press …
CTD Holdings (OTCQB: CTDH), a clinical stage biotechnology company that develops cyclodextrin-based products for the treatment of disease with unmet medical need, today announced that it has closed a private placement of its securities with a group of accredited investors that included several directors of the Company and members of management.
As quoted in the press release:
“We are pleased to again conclude a financing with significant insider participation,” said N. Scott Fine, CTD Chairman and CEO. “We are excited to bring additional capital to the company in order to further develop our lead drug candidate, Trappsol® Cyclo™, as an intravenous treatment for Niemann-Pick Disease Type C.”
Trappsol® Cyclo™, CTD’s proprietary formulation of hydroxypropyl beta cyclodextrin, is currently being evaluated at clinical sites in the U.S., Israel, the UK, and Sweden for treatment of Niemann-Pick Disease Type C (NPC), a rare genetic disease that causes neurologic, liver, lung and other organ dysfunction and that is ultimately fatal.
“There is an enormous need for treatment options for NPC, a disease that devastates patients and families,” said Sharon Hrynkow, Ph.D., Sr. VP for Medical Affairs, “We are pleased to be working with world-class physician scientists at each clinical site and look forward to advances in our clinical program that will help the NPC patient population.”
Click here to read the full press release.