Aerial Biopharma Announces Closing Of Second Tranche Of Series A

Wednesday, February 20, 2013

Aerial BioPharma announced Wednesday that the company has completed the second tranche of its $12 million Series A financing.  The company has now raised $9.5 million, with the third and final tranche of the Series A to be completed in the fourth quarter of 2013.    

The investment group for the two completed projects and the current ongoing project is located in Chattanooga and headed by local ob/gyn Dr. Dave Adair. 

The funding will allow the company to complete the Phase 2b trial for ADX-N05, the company’s lead product for the treatment of excessive daytime sleepiness associated with narcolepsy.  After positive, Phase 2a results for ADX-N05 in mid-2012, Aerial began enrolling the Phase 2b trial in September.  The company expects to complete the Phase 2b trial and have the results in the second half of 2013.   The U.S. Food and Drug Administration (FDA) Office of Orphan Products Development recently granted orphan designation for ADX-N05 for the treatment of narcolepsy.

“In addition to allowing us to advance our promising treatment for narcolepsy to Phase 3, the funding will be used to finish the IND enabling studies required for our novel biologic product, prostatic acid phosphatase (PAP), which represents a completely new approach to the treatment of acute and chronic pain” said Moise Khayrallah, PhD, CEO of Aerial.   Aerial plans to file the IND for PAP by the end of 2013. 

Aerial is the third company from the management team led by Khayrallah, Steve Butts and Gary Bream PhD, all privately held and located in the Research Triangle Park, NC area.  Since launching Addrenex Pharmaceuticals in 2006, the team has raised and deployed over $30 million for various drug development programs in central nervous systems conditions.  Addrenex was acquired by Shionogi Pharma in November 2009 and Neuronex, the team's second company, was acquired by Acorda Therapeutics in 2012.

With the closing of the second tranche, Aerial is positioned to continue its strategy of moving products quickly and efficiently through the development process in order to meet the unmet needs of patients, officials said.


CBL & Associates And Hamilton Place Recognized At ICSC's Maxi Awards

The International Council of Shopping Centers announced the winners of the 2016 U.S. MAXI Awards, highlighting the retail real estate industries innovative marketing events, programs and technologies that added value to shopping centers across the country. ICSC honored the winners on at an awards ceremony during RECon, the global real estate convention in Las Vegas.  CBL ... (click for more)

New Hamilton County Businesses

Here are the new business licenses from the County Clerk's office: 1ST RESPONDERS CHILL TIME COM 200 W MLK BLVD #1000 CHATTANOOGA, TN 37402 AMERICAN ENGINEERING CONSULTANTS INC 6111 HERITAGE PARK DR STE - A-200 CHATTANOOGA, TN 37416 AMERICAN TRANSPORTERS & DETAILERS 1817 DODDS AVENUE CHATTANOOGA, TN 37404 ANGIE'S PLACE 5030 C HIGHWAY 58 ... (click for more)

Stone Domestic Assault Case Postponed Until Aug. 9

The case in which Bobby Stone is charged with domestic assault against his wife, advisor to Mayor Andy Berke Lacie Stone, has been postponed until Aug. 9. Officials said there will be no further action until the TBI completes its investigation.  The case had been set Tuesday morning before general sessions court Lila Statom. The TBI is believed to be looking into ... (click for more)

Chattanooga Honors Military Veterans

A Memorial Day service was held at the National Cemetery on Monday. (click for more)

Calling Out Bad Behavior In St. Elmo - And Response

I have lived in the St. Elmo community of Chattanooga for practicially all 52 years of my life. My grandmother moved to St. Elmo in 1919. My Dad was literally born in a home in St. Elmo and lived his entire 72 years in this community and my Mom has lived here 60 years of her life. I am very disappointed in what my neighborhood has become. I like people. ... (click for more)

Roy Exum: Amputee Team Wins Relay

As a news junkie there isn’t a lot that gets past me in my morning reading, yet I had no idea there was a relay race in Chattanooga two weekends ago. Maybe that’s why 1,500 people ran away and never came back – the finish line was in Nashville. How the Ragnar Relays work is pretty simple. The organizers pick two cities that are about 200 miles apart and then 12-to-14 runners ... (click for more)