Epiomed Therapeutics, Inc. Announces Completion of Series A Venture Capital Financing Round

IRVINE, Calif., June 7, 2011 /PRNewswire/ -- Epiomed Therapeutics, Inc. ("Epiomed") a privately-held, semi-virtual, clinical-stage biopharmaceutical company focused on the discovery and development of novel, small-molecule anti-emetic (anti-vomiting) and anti-motion sickness compounds, announced today that it has completed its first round of financing via the sale of its Series A Participating Convertible Preferred stock ("Series A Stock") to NDI Capital ("NDI"), a Vancouver Canada-based private investment management company focused on investing in high potential biotechnology/life-science companies.  The financing round was conducted in-house by Epiomed, and all of the Series A Stock issued by Epiomed was sold to NDI.  Details about the financing were not disclosed.

Epiomed was formed and incorporated in October 2010.  Proceeds from this financing are anticipated to be used for development of Epiomed's lead anti-emetic compound, designated "ETI-0001" with a Phase 1/2 clinical assessment of ETI-0001 anticipated starting in 1Q2012.

Epiomed's technology focus is the development of novel compounds such as ETI-0001 targeted to the final common pathway for nausea and vomiting at the emetic center of the central nervous system ("CNS").  Multiple pathways exist in the CNS to convey emetic signals from different stimuli.  These paths converge to generate an output signal that causes nausea and vomiting (referred to as the "final common pathway").  All currently available drugs used as anti-emetics act by blocking one or more of these stimulus-conveying pathways.  Epiomed believes that none of the currently available anti-emetic drugs are able to safely block all of them.  The serotonin 5-HT1A receptor has been recognized as being a key target for the development of anti-emetic therapeutics at the final common pathway.  Studies in multiple species that have the vomiting reflex determined that 5-HT1A agonists blocked every emetic stimulus.  However, Epiomed believes that these studies also revealed that these agonists produced defensive behavior and anxiety.  Epiomed scientists conducted a detailed analysis of the receptor profiles of many of these 5-HT1A agonists.  These studies indicated that the anti-emetic effects resulted from an action at a combination of receptors, and that the defensive and anxiety-related behaviors were a consequence of addressing yet another receptor.  These studies led to the development of Epiomed's ESP™ Discovery technology for identification of anti-emetic compounds which Epiomed believes will evidence reduced or absent anxiety-related side effects in humans.  

Epiomed has two pending United States patent applications and one pending international patent application surrounding ETI-0001, screening using ESP Discovery technology, and chemical compounds from which Epiomed anticipates securing additional compounds for development.  All of the patent applications are owned by Epiomed.

For further information, call 1-949-398-7359, or visit www.epiomed.com.

Safe Harbor: This press release contains certain forward-looking information about Epiomed Therapeutics, Inc., which is intended to be covered by the safe harbor for "forward-looking statements" provided by the Private Securities Litigation Reform Act of 1995.

Contact:
David R. Helton
President, CEO and CSO
Epiomed Therapeutics, Inc.
1-(949) 398-7359
1-(855) EPIOMED

SOURCE Epiomed Therapeutics, Inc.