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Biotech / Medical : CEPH - CEPHALON
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To: Icebrg who wrote (77)11/11/2003 6:41:46 PM
From: Icebrg  Read Replies (1) of 109
 
Zars raises financing
Zars Inc., a privately held pharmaceutical company based in Salt Lake City that develops and markets products for pain, anxiety disorders and nausea, said it has raised $5 million in Series B private equity financing led by Zions SBIC LLC and Wasatch Venture Fund.

Cephalon Inc., a Zars partner, also participated in the financing, along with several of the company's shareholders and some angel investors.

What's this?

In August 2002, we entered into an agreement with Cephalon whereby we agreed to grant an exclusive license to Cephalon for Titragesia, as well as other potential opioid drugs and breakthrough pain products. We are responsible for all product development costs. We are eligible to receive from Cephalon development milestones, a significant payment at NDA approval of Titragesia and royalties.


Titragesia?


Overview. Titragesia combines CHADD disks with fentanyl in a patch for the treatment of both chronic and breakthrough pain. We have completed human pre-IND studies using CHADD and Duragesic (J&J’s fentanyl patch) and submitted a U.S. IND on February 6, 2003. We plan to initiate Phase I trials of Titragesia shortly and begin Phase II trials by the end of 2003. We are eligible to receive royalties and milestone payments from the worldwide sales for Titragesia from our partner Cephalon.


zars.com
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