Curaxis Pharmaceutical Corp. is an emerging specialty pharmaceutical company with a hormone drug product candidate for the treatment of Alzheimer’s disease and also multiple cancers.
The company’s therapeutic platform is based on the hypothesis that many diseases of aging may be caused by age-related changes in the function of a hormonal endocrine feedback loop that controls development, reproduction and aging in animals. The premise is that hormones associated with the feedback loop are beneficial early in life when they promote growth and development, but are harmful later in life when the mechanism for feedback is compromised.
Curaxis announced today that it has signed a $25 million equity line agreement with institutional investor, Southridge Partners II. Pursuant to a purchase agreement, Curaxis has the right, at its discretion, to sell to Southridge up to $25 million of its common stock from time to time over a thirty-six month period.
The company plans to use the proceeds of the equity line to support its upcoming Phase IIb trial in women of the company’s Alzheimer’s disease candidate, Memryte. Clinical site and patient enrollment into the Phase IIb trial is to begin in early 2011. For further information on Curaxis Pharmaceutical and Memryte, please visit its website at www.curaxispharma.com.
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