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Article: Prestwick Raises $15M In Series A Financing To Develop CNS Drugs.
- Article from:
- BIOWORLD Today
- Article date:
- November 4, 2009
CopyrightCOPYRIGHT 2009 A Thomson Healthcare Company. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Staff Writer
With $15 million from a first round of financing in its pocket, Prestwick Pharmaceuticals Inc. has the venture capital backing it needs to push its late-stage central nervous system disorder programs.
The Washington-based company said it would use the funds to develop and eventually sell its product candidates, several of which are in clinical development. Just last month, its lead product, Xenazine (tetrabenazine), entered a Phase III trial for Huntington's chorea. The molecule already is approved in Europe, Canada and Australia, and sold by UK-based Cambridge Laboratories Ltd.
Prestwick, which in-licenses compounds to minimize ...