Robert R. Henry, M.D., Professor of Medicine at the University of California, San Diego, Chief, Section of Diabetes, Endocrinology and Metabolism at the VA San Diego Healthcare System, and immediate Past President of the American Diabetes Association, commented: "I am excited about this progress for ITCA 650, as it facilitates the launch of a global Phase 3 program and advances this innovative therapy towards the many patients I believe may benefit from improved efficacy, tolerability, and the ensured compliance and long-term control that could come from a once-yearly therapy. The trials could demonstrate a real treatment breakthrough for patients and, given the global scale of unmet needs in type 2 diabetes, I believe the entire community should be enthusiastic about research like this and potential products like ITCA 650."
The completed financing will also facilitate the previously announced move of Intarcia's corporate headquarters to the Boston, Mass. area, while keeping its early development capabilities and state-of-the-art manufacturing site at its current location in Hayward, California.
Morgan Stanley acted as sole structuring advisor to Intarcia for the transaction. In addition, Morgan Stanley acted as sole placement agent for the debt and lead placement agent for the equity. Leerink Swann LLC acted as co-placement agent on the equity.
About ITCA 650
ITCA 650 (continuous subcutaneous delivery of exenatide) is being developed for the treatment of type 2 diabetes. The investigational therapy employs Intarcia's proprietary technology platform involving a matchstick-size, miniature osmotic pump that is inserted subcutaneously to provide continuous and consistent drug
|SOURCE Intarcia Therapeutics, Inc.|
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