Yaupon Therapeutics Closes $4 Million Financing.Series B Financing Positions Company to Advance Development of Its Product Portfolio Targeting Cancer and Central Nervous System Diseases RADNOR, Pa. -- Yaupon yau·pon n. An evergreen holly (Ilex vomitoria) of the southeast United States, having lustrous red or sometimes yellow fruit, whose dried leaves are used to make a bitter tea. Also called cassina. Therapeutics, a privately held specialty pharmaceutical company working to develop small molecule pharmaceuticals, today announced the closing of a $4 million round of venture capital financing To start an own company or to bring a new product to the market, the venture may need to attract financial funding. There are several categories of financing possibilities. If it is a small venture, then perhaps the venture can rely on family funding, loans from friends . The Series B financing will support the continued development of YauponeIUs multiple clinical programs targeting diverse medical needs in the treatment of lymphoma, addiction and neuropathic pain. The venture capital financing was led by Osage Ventures of Bala Cynwyd, Pennsylvania Bala Cynwyd is a village in Lower Merion Township which is located in the Main Line in southeastern Pennsylvania, bordering the western edge of Philadelphia. It was originally two separate towns, Bala and Cynwyd, but is commonly treated as a single community. , with a follow-on investment by BioAdvance Greenhouse Fund of Philadelphia, and with participation by Ben Franklin Technology Partners of Philadelphia, and TDH TDH Texas Department of Health TDH Total Dynamic Head TDH Tennessee Department of Health TDH Table D’ Hote (French: hosts table; menu ) TDH Tall Dark and Handsome TDH Total Discharge Head TDH Total Developed Head Capital of Radnor, Pennsylvania Like many of the elite communities of Philadelphia's Main Line, Radnor is a picturesque enclave in Radnor Township, Pennsylvania in Delaware County. Part of Radnor is also in Tredyffrin Township, Pennsylvania in Chester County. . "This financing represents an important milestone for our company," said Robert Alonso, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Yaupon. "Our lead product is now enrolling patients for a pivotal study and is continuing to show great promise as we advance toward FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. filing and commercialization. We are delighted that several of the leading investors in life sciences today have recognized the promise of YauponeIUs innovative business strategy and therapeutic approach," he added. Yaupon Therapeutics has four products in development, including one compound in pivotal studies, one compound in phase 2 and additional compounds expected to enter clinical development in 2007. The company's lead product, Clearazidee, is a topical cytotoxic cy·to·tox·ic adj. Of, relating to, or producing a toxic effect on cells. cy  to·tox·ic agent for the treatment of cutaneous T-cell lymphoma Cutaneous T-Cell Lymphoma DefinitionCutaneous T-cell lymphoma (CTCL) is a malignancy of the T-helper (CD4+) cells of the immune system. Description (CTCL CTCL Cutaneous T Cell Lymphoma ). Additional therapeutic areas targeted by Yaupon include smoking cessation smoking cessation Public health Temporary or permanent halting of habitual cigarette smoking; withdrawal therapies–eg, hypnosis, psychotherapy, group counseling, exposing smokers to Pts with terminal lung CA and nicotine chewing gum are often ineffective. , methamphetamine addiction treatment and neuropathic pain. YauponeIUs business strategy targets opportunities to license innovative technologies from academic research centers while leveraging funding available through the NIH "Not invented here." See digispeak. NIH - The United States National Institutes of Health. competitive grant system. "YauponeIUs business model reflects a strong focus on cost-effective strategies to license and advance clinical programs that have already delivered very promising results," said David Drahms, vice president of Osage Ventures. He added, "As investors, we see excellent potential in both the companyeIUs strategic approach to product development and in the progress thus far with Clearazide and with the other small molecule products in the pipeline." "Yaupon is ideally positioned to move multiple programs through development in a very capital-efficient way, making it a great example of the investment opportunities in Southeastern Pennsylvania," said Barbara Schilberg, CEO of BioAdvance. "Under RoberteIUs leadership, this company is advancing clinical programs with the clear potential to represent significant commercial opportunities that benefit patients." Drahms and Schilberg will also join YauponeIUs Board of Directors. About Yaupon Yaupon Therapeutics is a privately held specialty pharmaceutical company that develops small molecule pharmaceuticals licensed from under-served academic laboratories. The company has four products in development, with one compound in pivotal studies, one compound in phase 2 and additional compounds that will enter the clinic in 12 months. The company's business strategy is to build a highly capital- efficient organization that leverages the NIH competitive grant system to offset research expenses and to validate its technology. The model emphasizes strong academic collaborations that lead to the licensing and development of unique products with proof of principle and millions of academic research dollars behind them. To date Yaupon has received over $15 million in government support. About BioAdvance Greenhouse Fund To support growth of the life sciences industry in Southeastern Pennsylvania, BioAdvance established the $20 million Greenhouse Fund to invest in promising proof-of-concept projects related to biotherapeutics, biomedical bi·o·med·i·cal adj. 1. Of or relating to biomedicine. 2. Of, relating to, or involving biological, medical, and physical sciences. devices, diagnostics and platform technologies. The BioAdvance model is an innovative regional solution to the national problem of insufficient seed and pre-seed stage funding. Since making its first Greenhouse Fund investments less than four years ago, BioAdvance has committed nearly $10.5 million in funding to startup life sciences companies and academic research institution projects. The BioAdvance portfolio companies have gone on to raise $96 million in additional funding (as of June 2006). BioAdvance has been twice named to Entrepreneur MagazineeIUs leading early-stage venture funds. About Osage Ventures Osage Ventures is a venture capital fund that seeks to invest in determined and creative entrepreneurs that have a unique concept or product. Osage provides capital and value-added services to early stage IT/enabling technology and life science/healthcare businesses in the Northeast corridor. Initial investments range from $1-$1.5 million. Additional information is available at www.osageventures.com. |
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