Critical Pharmaceuticals, a specialty pharmaceutical company, has closed a third round of investment totaling GBP650,000.
Based on the company’s success in developing its unique CriticalMix delivery technology and matching pipeline of candidate drugs, the funding was fully supported by existing shareholders.
The company has now raised in excess of GBP2 million in investment and grants since its formation in 2004 as a spin-out from Nottingham University. It also follows the recent announcement of preclinical results for a sustained release somatropin formulation, which demonstrated considerable advantages over existing once-daily products.
Lisbeth Illum, CEO of Critical Pharmaceuticals, said: “The new funds will be used to advance the development of our pipeline of candidate drugs and drug delivery technologies, secure and develop our intellectual property portfolio and invest in our business development capability to secure partnerships with pharmaceutical and biotechnology companies.”
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