CED Member Aerial BioPharma, a biotech startup led by serial life science entrepreneur Moise Khayrallah, announced last week that the company has now raised $5.67 million of its $12 million.
According
to an SEC filing, Aerial raised $5.67 million from 23 investors as of Thursday,
October 11, 2012. Investors include Rex Health Ventures and 3G Capital, and
"about 10 other individual angel investors from NC," said Moise
Khayrallah, CEO.
The additional funding will be used to complete the Phase II –development
activities for Aerial’s N05 product for narcolepsy and complete the
non-clinical program necessary to file the IND for the PAP, Aerial’s biologic for the
treatment of acute and chronic pain, said Khayrallah in an email to CED.
The U.S. Food and Drug Administration Office of Orphan Products Department
recently granted orphan designation for Aerial's N05 program in narcolepsy.
According to Khayrallah, Aerial has "initiated a Phase 2b study in 90
patients with narcolepsy to confirm the efficacy and safety data obtained in
the completed Phase 2a study in more patients for a longer duration of
treatment."
Khayrallah also reports that two other programs at Aerial are progressing at a
good pace. Aerial can now manufacture enough protein in a mammalian cell line
to launch non-clinical toxicology studies for Aerial's PAP program, said
Khayrallah. The first non-clinical study was initiated early this month, said
Khayrallah.
Aerial also runs a granisetron nasal spray program, and Khayrallah reports that
the company has agreed with the FDA on a development plan and are proceeding
with pharmacokinetic and Phase 3 studies.
This $5.67 million is a strong investment, and allows Aerial to continue the
company's programs without interruption. Aerial continues its plans to raise the
remaining portion of the Series A financing- $3 million in January and the rest
in early 2014, said Khayrallah.
Note: Moise Khayrallah, CEO of Aerial BioPharma is a current CED Board of Directors member.
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