Topokine Therapeutics Secures Financing from Schooner Capital to Advance Clinical Development of XAF5 Gel
NEWTON, Mass., Jan. 22, 2013 /PRNewswire-iReach/ -- Topokine Therapeutics, a clinical-stage biotechnology company developing therapies for dermatology and medical aesthetics, has announced a financing arrangement with Schooner Capital, a Boston-based investment firm. The agreement provides Topokine with immediate capital and the ability to draw additional capital to advance the Company's pipeline, including XAF5 Gel, a clinical-stage skin cream for local reduction of excess subcutaneous fat. Specific terms were not disclosed.
"We are delighted to partner with Schooner Capital," said Murat Kalayoglu, MD, PhD, Topokine President and CEO. "Schooner's long-term commitment allows us to invest not only in the development of XAF5 Gel, but also other drugs in our pipeline."
"Topokine is generating impressive results and intellectual property at a rapid pace," said Ted Henderson, a Managing Director at Schooner Capital. "We are committed to seeing Topokine's products get to market, whether by organic growth or with a best-in-class Pharmaceutical partner."
Topokine Therapeutics is a clinical-stage biotechnology company developing therapies for dermatology and medical aesthetics. The company's lead program, XAF5 Gel, is a skin cream being developed for local reduction of excess subcutaneous fat. XAF5 is an adipomodulatory compound that inhibits adipocytes by engaging a cell-surface receptor, resulting in down-regulation of key adipocyte transcription factors. XAF5 reduces adipose tissue in vivo without inflammation or necrosis.
About Schooner Capital
Founded in 1971, Schooner Capital is a Boston-based private investment firm. The firm approaches all investments with a long-term perspective and invests in private companies across stage and sector, with a focus on quality of management, unit economics, and long-term growth prospects.
This press release contains forward-looking statements. These statements are based on current beliefs and expectations, but actual results may differ.
Media Contact: Murat Kalayoglu Topokine Therapeutics, Inc., 1.000.000.0000, firstname.lastname@example.org
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SOURCE Topokine Therapeutics, Inc.