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NeuroPhage, Inc. Raises $6.4 Million In Additional Financing
Date:5/6/2013

is conducting pre-IND safety studies and scaling-up cGMP manufacturing activities to support a planned IND filing next year. 

"This supplemental financing demonstrates the continued confidence of our investors in the promise of our scientific platform targeted at neurodegenerative diseases," said Jonathan Solomon , President and Chief Executive Officer of NeuroPhage. "We believe that the unique ability of our drug candidates to target multiple neurotoxic protein aggregates in the brain represents a breakthrough approach to slowing or preventing the devastating progression of neurodegenerative diseases."

NeuroPhage scientists have recently shown that the NPT002 mechanism of action is based on a novel general amyloid interaction motif (GAIM).  Motifs define distinctive and recurring components of protein structure and interaction that can have biological significance. The discovery of GAIM has allowed the creation of new antibody-like fusion proteins that have the broad neurodegenerative disease-targeting ability of NPT002.

In connection with the financing, NeuroPhage announced that John F. Dee has been named Chairman and Kenneth A. Buckfire has joined the Board as a Director. Mr. Dee brings a wealth of industry experience as the former CEO of several successful neuroscience-focused biotechnology companies that were acquired by major pharmaceutical firms. Mr. Buckfire brings extensive strategic and financial experience as Vice Chairman of Stifel Investment Banking and President of Miller Buckfire & Company, a Stifel Company.

Solomon added, "We welcome John Dee as Chairman and Ken Buckfire as a new board member.  We expect their extensive experience in financing and growing successful biotechnology companies will be invaluable a
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SOURCE NeuroPhage Pharmaceuticals, Inc.
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