Article: Discovery Laboratories Raises $27.M To Advance Surfactant.

National Editor

With promising early data from a Phase III support trial of its lead product Surfaxin in hand, Discovery Laboratories Inc. raised $27.5 million through a private placement to keep the development going at a steady rate.

Surfaxin, synthetically engineered to mimic natural human surfactant, could push existing, animal-derived products "off the market within three years," if approved and if the lessons of history hold true, said John Cooper, chief financial officer of Doylestown, Pa.-based Discovery.

Synthetics of "top-notch pharmaceutical quality" such as Surfaxin typically outdo animal-based products over time, since the latter ...

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