By Lisa Kerner
Charlotte, N.C., Oct. 17 - Diffusion Pharmaceuticals LLC closed a $1.5 million private equity financing round that included primarily existing shareholders.
Proceeds will be used to move its lead compound, trans sodium crocetinate (TSC), into human testing, possibly in early 2007.
The company recently completed all animal toxicology studies requested by the Food and Drug Administration in preparation for an Investigational New Drug filing for TSC.
Diffusion plans further testing of TSC in life-threatening conditions such as hemorrhagic shock, stroke, respiratory disorders and cancer.
The drug discovery and development company is located in Charlottesville, Va.
| Issuer: | Diffusion Pharmaceuticals LLC
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| Issue: | Private equity financing
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| Amount: | $1.5 million
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| Announcement date: | Oct. 17
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