Zosano Pharma, Inc. Secures $30 Million in New Round of Financing.
FREMONT, Calif. -- Zosano Pharma, Inc., a privately held pharmaceutical company developing products based on its novel transdermal delivery technology, today announced that the company has closed a new round of financing in the amount of $30 million. Nomura Phase4 Ventures led the round and all of the company's existing venture investors, including New Enterprise Associates, HBM HBM Human Body Model
HBM Human Brain Mapping
HBM Hottinger Baldwin Messtechnik GmbH (German company)
HBM High Bone Mass
HBM Hybrid Bilayer Membrane
HBM Humming Bird Medal
HBM Her/His Britannic Majesty BioVentures and ProQuest Investments, participated.
Proceeds will primarily support the ongoing scale-up for Phase 3 clinical development and manufacturing readiness for Zosano's lead program, ZP-PTH rapid delivery patch for the treatment of osteoporosis.
"We are pleased to have completed this significant financing with participation from our existing investors, particularly in this challenging economic environment," said Zosano Chair 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. Gail Schulze. "We continue to lay the groundwork for our pivotal phase 3 clinical study and in parallel are advancing a number of strategic partnering discussions. We believe that this financing is further evidence that ZP-PTH has tremendous potential to deliver an important and differentiated therapeutic alternative to the large, yet underserved osteoporosis market."
"We are impressed with the progress Zosano is making in advancing ZP-PTH for osteoporosis," stated Denise Pollard-Knight, Managing Director of Nomura Phase4 Ventures. "This new investment in Zosano reflects our continued confidence in the clinical promise of ZP-PTH, in the team's ability to deliver the product to patients, and in this novel technology's value across many therapeutic applications, including vaccines."
Zosano recently reported positive results from its phase 2 study of the ZP-PTH rapid delivery patch being developed as an alternative to daily injections for the treatment of osteoporosis. ZP-PTH delivers PTH PTH
Parathyroid hormone (PTH)
A chemical substance produced by the parathyroid glands. This hormone is a major element in regulating calcium in the body. 1-34, teriparatide (PTH), a compound proven to stimulate formation of new bone and reduce the risk of fractures.
The phase 2 study evaluated the safety and efficacy of three doses of ZP-PTH on lumbar spine Lumbar spine
The segment of the human spine above the pelvis that is involved in low back pain. There are five vertebrae, or bones, in the lumbar spine.
Mentioned in: Low Back Pain bone mineral density bone mineral density
See bone density.
bone mineral density A measurement of bone mass, expressed as the amount of mineral–in grams divided by the area scanned in cm2. See Bone densitometry. (BMD BMD
In currencies, this is the abbreviation for the Bermudian Dollar.
The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. ) after 24 weeks relative to placebo and Forteo([R]) subcutaneous injection Noun 1. subcutaneous injection - an injection under the skin
injection, shot - the act of putting a liquid into the body by means of a syringe; "the nurse gave him a flu shot" in postmenopausal post·men·o·paus·al
Of or occurring in the time following menopause.
postmenopausal Change of life Gynecology adjective Referring to the time in ♀ when menstrual periods stop for ≥ 1 yr women with osteoporosis. The results demonstrated that daily administration of all three doses of ZP-PTH for 24 weeks resulted in a significant gain in BMD of the lumbar spine over placebo (p<0.001). The ZP-PTH 40 mcg patch, which effectively delivers 16 mcg of PTH, was similar to a Forteo 20 mcg injection, in mean percent change from baseline in lumbar spine BMD (4.97% versus 3.55%). Importantly, treatment with ZP-PTH 40 mcg also showed a significant increase in total hip mean percent change from baseline in BMD (+1.33%) compared to placebo (-0.634%) and Forteo (0.094%), both at p<0.05. All ZP-PTH doses were well tolerated with no systemic adverse events different from Forteo. There were no clinically significant sustained occurrences of hypercalcemia Hypercalcemia Definition
Hypercalcemia is an abnormally high level of calcium in the blood, usually more than 10.5 milligrams per deciliter of blood. in any treatment group and topical reactions were minimal, as expected.
About Zosano Pharma, Inc.
Zosano Pharma, Inc. is a privately held pharmaceutical company focusing on the development of its lead clinical program, the ZP-PTH rapid delivery patch for the treatment of osteoporosis. ZP-PTH is being developed as an alternative to daily injections and is based on Zosano's novel transdermal delivery technology which can deliver peptides, proteins, small molecules and vaccines by permeating per·me·ate
v. per·me·at·ed, per·me·at·ing, per·me·ates
1. To spread or flow throughout; pervade: "Our thinking is permeated by our historical myths" the skin's outer layer and ensuring significant therapeutic effect. This proven proprietary technology offers many key benefits, including efficacy and safety comparable to approved injectables, needle-free and pain-free delivery, a self-administered patch, rapid onset of action onset of action Pharmacology The length of time needed for a medicine to become effective. See Therapeutic drug monitoring. and room temperature storage. Zosano's transdermal delivery technology has been clinically tested in more than 400 patients with four different peptides and a vaccine. Zosano aims to develop products both independently and through strategic licensing and co-development arrangements. Founded in 2006 as an ALZA Corporation spin-out led by Nomura Phase4 Ventures, Zosano is funded by New Enterprise Associates, Nomura Phase4 Ventures, HBM BioVentures and ProQuest Investments. For more information, please visit www.zosanopharma.com.
|Printer friendly Cite/link Email Feedback|
|Date:||Jul 7, 2009|
|Previous Article:||Shutterfly Partners with Our365 to Celebrate New Arrivals.|
|Next Article:||The Standard Charitable Foundation, The Standard and its Employees Contributed $2.1 Million to Nonprofits in 2008.|