Highland Therapeutics, a Toronto-based company with delayed-release technology for ADHD treatment, brought in $25 million to push its lead candidates through mid- and late-stage trials and prepare for commercialization.
Highland's technology, called Delexis, is a delivery platform for the stimulants methylphenidate and amphetamine with a delayed onset intended to be dosed at night and take effect in the morning. The company says this helps manage ADHD symptoms in the morning after a patient, often a child, has been without his or her normal regimen overnight. The oral, controlled-release technology peaks in the early morning and lasts throughout the day, according to Highland.
The Canadian company's two lead candidates are HLD-200, delivering methylphenidate, and HLD-100, delivering amphetamine. HLD-200 is the furthest along, as the company presented successful Phase II data earlier this month and began a Phase III trial in April. A Phase II study of HLD-100 was also completed this year.
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| Highland CEO David Lickrish |
"I am delighted by the strong show of support evidenced by this financing, which recognizes the progress made by Highland in its evolution to becoming an international pharmaceutical company with a proprietary drug delivery technology and two late-stage products in development," CEO David Lickrish said in a statement. "Looking forward, we anticipate reaching a number of critical near-term milestones, including Phase III data for HLD-200."
The investor this time around went unnamed by Highland. Back in August last year, the company pulled in $6.7 million via its clinical development group to get this far in the trials process.
The control of ADHD symptoms in a delayed-release manner is a particular focus in treating the disorder as companies like Pfizer ($PFE), Neos Therapeutics, Noven Pharmaceuticals and others tailor their delivery options with once-daily, extended-release and even patch options in the pipeline.
- here's the financing release (PDF)
- and this month's earlier data announcement (PDF)