Diffusion Pharmaceuticals Completed USFDA-Required Toxicology Studies in Support of TSC Phase I Trials and Closed $1.5 Million Private Placement
A drug discovery and development company pioneering a revolutionary mechanism of action to treat life-threatening diseases -- Diffusion Pharmaceuticals LLC -- has recently completed all animal toxicology studies required by the USFDA so that the company can file an investigational new drug (IND) application for its lead compound trans sodium crocetinate (TSC).
In addition, the company also completed a private financing round of $1.5 million, the proceeds of which will be used to support the company's overall growth and move TSC into Phase I clinical trials in early 2007.
According to David G. Kalergis, Diffusion's Chief Executive Officer:
"These studies show no appreciable toxicity of TSC, even at doses much greater than the proposed human dose. Reaching this critical milestone has positioned us to prepare and file our IND application, which is currently being assembled by a team of Diffusion staff members and expert consultants.”Find more details from the press release.
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