Navigation Links
Diffusion Pharmaceuticals Announces Completion of a $2.9 Million Private Placement and Company Presentations at Upcoming Industry Conferences in Geneva, Switzerland and Naples, Florida
Date:2/6/2009

CHARLOTTESVILLE, Va., Feb. 6 /PRNewswire/ -- Diffusion Pharmaceuticals LLC, a clinical-stage drug development company commercializing first-in-class drugs that enhance oxygen diffusion, today announced the completion of a $2.9 million private placement. The proceeds will support the company's overall growth and clinical programs for its lead drug compound, trans sodium crocetinate (TSC). In addition, David G. Kalergis, Chief Executive Officer of Diffusion Pharmaceuticals, will be presenting at two industry conferences: BioBusiness 2009, February 16 - 18, in Geneva, Switzerland, and BioNetwork East 2009, March 16 - 18, in Naples, Florida.

(Photo: http://www.newscom.com/cgi-bin/prnh/20090206/PH67853 )

To date, Diffusion Pharmaceuticals has raised $13.1 million in private equity and has received $2.6 million in government research and development funding from the Office of Naval Research (ONR), bringing the company's total funding to $15.7 million. This funding has enabled the Company to advance its drug-development programs, which include a multi-center Phase I/II clinical trial in peripheral arterial disease patients and a Phase I trial in patients with high-grade gliomas at Johns Hopkins University. These clinical trials are designated NCT00725881 and NCT00826930, respectively, on the clinicaltrials.gov Website.

"In an economic environment in which one third of all US biotech companies may go out of business for lack of funding, we are fortunate to have key investors who strongly believe in our technology and who continue to increase their investment level. We are also fortunate to have attracted several new investors at significant levels," said David G. Kalergis, Chief Executive Officer of Diffusion Pharmaceuticals.

David Kalergis, CEO, will present the company's recent progress and future plans to potential funding partners at several upcoming industry conferences. During BioBusiness 2009 at 4:00 p.m. February 16th in Geneva, Switzerland, Mr. Kalergis will participate with two other companies in the Investment Challenge to present proposals to a global panel of potential funding partners. At BioNetwork East 2009 10:00 a.m. March 16th in Naples, Florida, he will present a 40-minute case study on Diffusion Pharmaceuticals to a high-level audience of pharmaceutical business executives. The session, titled "Global Partnering Challenges: A Small Biotech's Perspective" will focus on the challenges facing a small biotech as it attempts to rise above the competitive crowd and win the support of major international companies.

About Diffusion Pharmaceuticals LLC

Diffusion Pharmaceuticals LLC is a clinical-stage drug-development company commercializing a family of first-in-class drug candidates to treat serious or life-threatening medical conditions. These proprietary small molecules use a novel method of action to enhance oxygen diffusion to oxygen-deprived (hypoxic) tissue. Potential clinical applications include cancer, critical care uses such as trauma, hemorrhage, stroke, and heart attack, as well as chronic conditions such as peripheral arterial and vascular disease, cardiovascular disease, and respiratory disorders. Enhanced diffusion of oxygen into hypoxic tissue has an important application in oncology by improving the efficacy of radiation therapy in cancerous tumors. A Phase I study for Diffusion's lead molecule, trans sodium crocetinate (TSC), in healthy subjects was successfully completed in 2007. In 2008, the company commenced a Phase I/II dose-range-finding, safety and efficacy study of TSC in peripheral arterial disease patients suffering from intermittent claudication. In early 2009, the company will initiate a Phase I proof-of-mechanism trial in patients with high-grade glioma at Johns Hopkins University. These studies are designated NCT00725881 and NCT00826930, respectively, on the clinicaltrials.gov Website. Diffusion Pharmaceuticals, which is privately held, is located in Charlottesville, Virginia. For more information, visit www.diffusionpharma.com.


'/>"/>
SOURCE Diffusion Pharmaceuticals LLC
Copyright©2009 PR Newswire.
All rights reserved

Related biology technology :

1. Co-Inventor of Amgens Aranesp(R) Technology Directs Worldwide Patent Strategy for Diffusion Pharmaceuticals First-in-Class Oxygen Enhancing Therapeutics
2. Diffusion Pharmaceuticals Announces Issuance of U.S. Patent No. 7351844, Titled Bipolar Trans Carotenoid Salts and Their Uses, for Its Family of First-In-Class Molecules
3. Diffusion Pharmaceuticals Announces Addition of Mark T. Giles to its Board of Directors
4. Vion Pharmaceuticals Pays Interest on 7.75% Convertible Senior Notes
5. China Biopharmaceuticals Holdings Announces Second Quarter 2007 Financial Results
6. Vion Pharmaceuticals Completes Accrual of 85 Patients to its Pivotal Phase II Trial of Cloretazine(R) (VNP40101M) in Elderly AML
7. XTL Biopharmaceuticals Announces Financial Results for the Six Months Ended June 30, 2007
8. Cadence Pharmaceuticals Reports Second Quarter 2007 Financial Results
9. Nabi Biopharmaceuticals to Present at Upcoming Industry Conferences
10. Anadys Pharmaceuticals Appoints Steve Worland, Ph.D. as President and Chief Executive Officer
11. Poniard Pharmaceuticals Announces Participation in Upcoming Conferences
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/27/2016)... (PRWEB) , ... June 27, 2016 , ... Parallel ... clinical trials, announced today the Clinical Reach Virtual Patient Encounter CONSULT module ... circle with the physician and clinical trial team. , Using the CONSULT module, patients ...
(Date:6/27/2016)... BOSTON , June 27, 2016   Ginkgo ... biology to industrial engineering, was today awarded as ... a selection of the world,s most innovative companies. ... at scale for the real world in the ... organism engineers work directly with customers including Fortune ...
(Date:6/24/2016)... ... ... Researchers at the Universita Politecnica delle Marche in Ancona combed medical journal ... Their findings are the subject of a new article on the Surviving Mesothelioma website. ... the blood, lung fluid or tissue of mesothelioma patients that can help point doctors ...
(Date:6/23/2016)... June 23, 2016 /PRNewswire/ - FACIT has announced ... biotechnology company, Propellon Therapeutics Inc. ("Propellon" ... commercialization of a portfolio of first-in-class WDR5 inhibitors ... such as WDR5 represent an exciting class of ... precision medicine for cancer patients. Substantial advances have ...
Breaking Biology Technology:
(Date:5/12/2016)... DALLAS , May 12, 2016 ... has just published the overview results from the Q1 ... of the recent wave was consumers, receptivity to a ... wearables data with a health insurance company. ... choose to share," says Michael LaColla , CEO ...
(Date:4/28/2016)... India , April 28, 2016 ... Infosys (NYSE: INFY ), and Samsung SDS, a ... that will provide end customers with a more secure, ... services.      (Logo: http://photos.prnewswire.com/prnh/20130122/589162 ) , ... services, but it also plays a fundamental part in enabling ...
(Date:4/26/2016)... DUBLIN , April 27, 2016 ... of the  "Global Multi-modal Biometrics Market 2016-2020"  report ... ) , The analysts forecast ... a CAGR of 15.49% during the period 2016-2020.  ... a number of sectors such as the healthcare, ...
Breaking Biology News(10 mins):