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Elevation Pharmaceuticals Completes $30 Million Series B Financing to Advance Aerosol COPD Therapy
Date:1/4/2012

al trial, GOLDEN-1 (Glycopyrrolate for Obstructive Lung Disease via Electronic Nebulizer), to evaluate EP-101 in patients with moderate-to-severe COPD. A second Phase 2b study is planned for 2012 in order to confirm the optimal dose and dosing regimen for Phase 3 studies. The Series B financing will allow Elevation to complete all activities sufficient to initiate Phase 3 studies by the end of 2013.

COPD patients with advanced disease often have poor coordination and breathing capacity, and therefore don't benefit from dry powder or metered dose inhalers. Nebulizer therapy is the preferred delivery method for these patients because they can receive a full dose, regardless of their disease state. Unfortunately, medicines currently available for nebulization have a high treatment burden involving 2-4 doses per day and treatment times of 10-15 minutes per dose using traditional table top jet nebulizers, often leading to poor compliance and therefore poor clinical outcomes. Elevation's optimized drug delivered with the portable, easy-to-use eFlow device provides a once-daily therapy with a treatment time of only about 2 minutes, significantly improving the standard of care for the large underserved population of COPD patients not adequately treated by inhalers.

"We frequently hear pulmonologists say, if a nebulized long-acting muscarinic antagonist were available, they'd have the optimal medicine delivered in the optimal device for their patients with more severe COPD. Significantly improving the standard of care for this large and growing subpopulation of COPD patients is what motivates Elevation and our group of outstanding investors," said Bill Gerhart, President and CEO of Elevation Pharmaceuticals.

About Novo Ventures
Novo A/S is the holding company of the Novo Group, and is wholly owned by the Novo Nordisk Foundation. Novo A/S was established in 1999 to man
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SOURCE Elevation Pharmaceuticals, Inc.
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