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Biscayne Pharmaceuticals Closes $1.5 Million Financing To Advance Recent Discoveries Of Pioneering Endocrine Drug Researcher
Date:1/18/2013

team to rapidly develop this approach for testing in patients."The Reich Group, an investment firm based in Miami Beach, Florida, led the financing.  Samuel Reich , Managing Partner of The Reich Group and formerly a founder and Executive Vice President of Acuity Pharmaceuticals and OPKO Health, is joining Biscayne Pharmaceuticals as Chief Executive Officer and Chairman of the Board of Directors.

Reich noted, "The opportunity to work with Biscayne's outstanding scientific founders to develop drugs with breakthrough potential in intractable diseases was one I had to take, and I am delighted to be leading this exciting new company.  We will apply the proceeds of this first financing to further develop our infrastructure and progress our initial drug candidates through preclinical development."

Biscayne's technology is licensed from the University of Miami.  Norma Sue Kenyon , Chief Innovation Officer and Vice Provost of the University, commented, "The University of Miami is committed to working with our partners to ensure that our scientific discoveries emerge from the lab to make a positive difference in the world.  We are very pleased that these innovative technologies developed by some of our most accomplished medical researchers are being developed and commercialized by the experienced team at Biscayne Pharmaceuticals."

About Biscayne Pharmaceuticals
Biscayne Pharmaceuticals, Inc. is a privately held biopharmaceutical company discovering and developing novel therapies based on growth hormone-releasing hormone (GHRH) analogs.  The company's technology stems from the discoveries of Dr. Andrew V. Schally , a Nobel laureate and pioneering endocrine drug developer.  Biscayne's lead compounds include GHRH antagonists in development for the treatment of cancer, including castrate-resistant prostate cance
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