Access Pharmaceuticals has accessed the investment community for a $5.2 million private placement, as the developer aims to beef up sales of one of its products that uses its hydrogel tech to prevent painful mucositis in patients undergoing cancer treatment. The firm, which uses a range of drug-delivery technologies for its products, has agreements to sell units of common stock and warrant to investors.
Along with the Dallas-based company's ($ACCP) new hydrogel mouth rinse, MuGard, the firm is developing technology called CobaCyte for target delivery of drugs and CobaOral, which involves the use of nanopolymers for oral delivery of drugs. "We believe this financing gives us the necessary resources to advance MuGard significantly in the United States and globally," Jeffrey Davis, CEO of Access, said in a statement.
- here's the release