Cancer Prevention Pharmaceuticals, Inc.
24.08.2011 14:00
---------------------------------------------------------------------------
TUCSON, Ariz., 2011-08-24 14:00 CEST (GLOBE NEWSWIRE) --
Cancer Prevention Pharmaceuticals, Inc. (CPP) today announced that it had
completed a bridge financing round. As a result, the Company now has sufficient
cash reserves for continuing operations into the first quarter of 2012. Geller
Biopharm, a healthcare investment banking division of Financial West Group, was
the exclusive placement agent.
Jeff Jacob, CEO, stated, 'We are pleased to have successfully completed a
bridge financing round with high quality investors. Among the participants in
this round were the TRAC fund, managed by Mr. Richard Love and Dr. Daniel von
Hoff, as well as former biotech and pharmaceutical executives.' Mr. Jacob
continued, 'Our choice of endpoints and subsequent positive advice from the
European Medicine Agency have resulted in increased enthusiasm from our current
investors, new investors, and potential partners. We are optimistic that
completion of this bridge round will give us the runway to finalize a
partnership and/or financing to complete two Phase III trials, familial
adenomatous polyposis (FAP) and preventing recurrence in colon cancer
survivors.'
About CPP
Cancer Prevention Pharmaceuticals, Inc. (CPP) is developing therapeutics that
reduce the risk of cancer. CPP's approach has been used with great success in
other disease categories such as cardiovascular, neurovascular and infectious
disease. Agents that target pre-disease states have helped reduce death rates
from these conditions by 50%-70% over the past 30 years. Just as these other
prevention therapies represent the largest-selling drug classes on the market
today (>$25 billion), CPP believes there is even more potential for therapies
that reduce the risk of cancer. In addition to its Phase III FAP study, CPP is
also collaborating on a large (n=1350) Phase III trial in colon cancer
survivors (SWOG study S0820) expected to begin in the second half of 2011.
Additional information on CPP is available at www.canprevent.com.
Forward Looking Statements
This press release contains forward-looking statements subject to risks and
uncertainties that could cause actual results to differ materially from those
projected. Forward-looking statements include statements about the planned
Phase III trial of the CPP-1X/sul combination therapy in FAP as well as the
company's focus, collaborative partners, and independent and partnered product
candidates. These forward-looking statements represent the company's judgment
as of the date of this release. The company disclaims, however, any intent or
obligation to update these forward-looking statements.
CONTACT: Jeffrey Jacob
CEO
520-908-7774
jjacob@canprevent.com
News Source: NASDAQ OMX
24.08.2011 Dissemination of a Corporate News, transmitted by DGAP -
a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------------
Language: English
Company: Cancer Prevention Pharmaceuticals, Inc.
United States
Phone:
Fax:
E-mail:
Internet:
ISIN: US9901623564
WKN:
End of Announcement DGAP News-Service
---------------------------------------------------------------------------
DGAP-News: Cancer Prevention Pharmaceuticals Announces Completion of Bridge Financing Round
| Source: EQS Group AG