NEW YORK, Dec. 16, 2015 /PRNewswire/ -- Deerfield leads a $7.1 million Series A investment in Hallux, Inc. to further the development of a novel dosage form and route of administration of leading antifungal terbinafine to treat distal subungual onychomycosis, a common infection of the nail plate. The studies are intended to establish tolerability, proof of concept and optimal dose.
"We are pleased to be able to work with Hallux to pursue improved cure rates for distal subungual onychomycosis, which is reported to affect as many as 35 million people in the United States. We believe the Hallux management team has identified and is developing a novel therapeutic delivery option that can result in meaningfully improved outcomes when treating this disease," stated Peter Steelman, Partner at Deerfield Management.
"Deerfield has been a creative partner and supporter of innovation and we are pleased to have them on our team to help further develop our product and help guide our company to success," stated Mark Taylor, CEO of Hallux.
Hallux, Inc. is a clinical-stage pharmaceutical company focused on the development of targeted subungual drug delivery to treat onychomycosis. The Company's lead product is designed to deliver high concentrations of terbinafine hydrochloride directly to the nail bed site of infection with negligible systemic exposure.
Deerfield is an investment management firm committed to advancing healthcare through investment, information and philanthropy.
For more information, please visit www.deerfield.com.
Deerfield Management Company
Karen Heidelberger, 212-692-7140