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.


Miller & Martin Practices, Attorneys Recognized In 2017 Chambers USA

Chambers and Partners has recognized Miller & Martin in the 2017 Chambers USA: America's Leading Lawyers for Business report as a leading law firm in the practice areas of Labor & Employment, Corporate/M&A and Litigation: General Commercial, and also recognizes six of the firm’s attorneys. Individual lawyers are ranked on the basis of their legal knowledge and experience, ... (click for more)

Chattanooga Chamber Calendar Of Events May 30-June 2

Thursday, June 1 Downtown Chamber Council Meeting 7:30  - 9 a.m. Bessie Smith Hall: 200 E M L King Blvd. Speaker: Jay Raynor, Defoor Brothers Topic: City Center Development Join the Downtown Council for networking and breakfast from 7:30 - 8 a.m., with the program lasting from 8 - 9 a.m.   $15   East Ridge Chamber Council Meeting 11:45 a.m. - ... (click for more)

Richard Anderson, 29, Struck And Killed While Trying To Cross Highway 153

Richard Anderson II, 29, was killed Friday night, while trying to cross Highway 153.   Chattanooga Police responded at 11:36 p.m. to a traffic crash involving a pedestrian struck.   A Honda Civic driven by Kelsey Hamilton, 20, was traveling southbound on Highway 153 in the middle lane with other traffic in adjacent lanes.   Mr. Anderson, wearing ... (click for more)

Eppard, 32, Charged With Aggravated Statutory Rape After 17-Year-Old He Was Living With Has Baby

Police have charged 32-year-old Anthony John Eppard with aggravated statutory rape after the 17-year-old girl he was living with had a baby. Officers were called to a civil dispute on Hillsview Drive on March 8. It was then found that the girl was living at the residence. She could not supply the name of next of kin or a legal guardian. The girl was placed in state custody, ... (click for more)

Silence Ain’t Golden Anymore

There are times – moments – in life that you never forget. That night in 1972, sleeping over at my buddy Bart’s house, was one of them. We had been to a middle school concert and his big brother was in the band (very cool stuff for a 14-year-old!) and as we lay on the floor in our sleeping bags in Bart’s room he said he wanted to play a record that his brother listened to. And, ... (click for more)

Roy Exum: Prove No Improvement

The startling news that this year’s standardized testing was wasted on graduating seniors across Tennessee is most unsettling. This week it was learned the test results, which were to represent 10 percent of our seniors’ final grades, was a total bust. Coupled with last year’s gargantuan testing failure – the whole effort had to be scrapped -- it is now becoming realized that for ... (click for more)