ROCKVILLE, Md., Nov. 9, 2015 /PRNewswire/ -- Therabron Therapeutics, Inc., a clinical-stage biotechnology company dedicated to advancing a new standard in respiratory care, today announced that the Company has received an accelerated second tranche from its previously announced Series B financing and expanded its investor syndicate with gross proceeds of up to $6.75 million. Brace Pharma Capital led the financing.
"The last year has been important for Therabron as we are now moving toward the end of patient enrollment in the phase 2 clinical trial for CG100 and have advanced our scientific understanding of the broad potential of our recombinant human secretoglobin platform across several respiratory disorders," said Dr. Thomas F. Miller, President of Therabron. "We are thrilled that our investors have continued confidence in Therabron and endorse our strategy to expand the scope of development of our proprietary platform."
The Company's lead product candidate, CG100, is currently being investigated in a phase 2 clinical trial for the prevention of chronic respiratory morbidities (CRM) in preterm infants. Therabron anticipates enrollment for this study to be completed by the end of 2015.
Therabron is also advancing other promising programs with the goal of opening a second IND in 2016 targeting patients in the Pediatric Intensive Care Unit (PICU) where pathogen infections, such as influenza and respiratory syncytial virus (RSV) can lead to respiratory failure. Additional lead optimization activities will also progress for newly created analogues of recombinant human CC10 proteins intended to target ambulatory respiratory disorders, such as chronic obstructive pulmonary disease (COPD).
About Therabron Therapeutics, Inc.
Therabron Therapeutics, Inc. is a clinical-stage biotechnology company, founded in 2007 and located in Rockville, MD. Therabron is focused on the advancement of respiratory therapeutics with disease-modifying potential. The Company's product candidates aim to restore the natural immune balance in the lungs of patients with respiratory disorders through the administration of recombinant human CC10 proteins. The family of CC10 proteins, also known as secretoglobins, has the potential to change the course of acute and chronic respiratory diseases, representing large markets into which few truly novel drugs have been introduced. Therabron's product candidates have the potential to be first-in-class, disease-modifying, breakthrough biologic therapeutics. For additional information, please visit www.therabron.com.
SOURCE Therabron Therapeutics, Inc.