3-D printed medicine specialist Aprecia Pharmaceuticals announced that it has completed a $35 million financing round led by Deerfield Management. JW Asset Management also participated in the round. And all of the convertible debt held by existing investors like Great American Insurance and Scion was converted into preferred stock.
The move should help Langhorne, PA's Aprecia commercialize the first FDA-approved 3-D printed drug, Spritam, a reformulated, easy-to-swallow med for the treatment of epilepsy. The launch is expected to occur in the first half of this year with the help of marketing partner inVentiv Health.
Aprecia has exclusive rights to utilize Powder-liquid 3DP, a 3-D printing technology developed by MIT in the 1980s. The technique enables the company's ZipDose delivery platform. By printing a tablet consisting of layers of powder, Aprecia drugs can achieve a high degree of dissolvability in liquid. That means dosages as high as 1,000 mg will disintegrate in liquid, the company says.
The new manufacturing methodology could also facilitate decentralized drug manufacturing and customization of medications to the needs of individual patients.
Aprecia says the cash infusion will accelerate the development of its pipeline, which consists of three unnamed preclinical reformulations of highly prescribed high-dose medications, according to the company website.
"The capital supplied by these prestigious firms, in conjunction with inVentiv Health's continuous commitment to commercialization of Aprecia products, provides the resources required for success as we prepare to transition to a commercial enterprise during the next three to six months," said Aprecia CEO Don Wetherhold in a statement.
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