PLANTATION, FL—Accu-Break Pharmaceuticals Inc. has raised a $5.65 million round led by new investors S.A.C. Capital Associates and a number of funds managed by Pequot Capital Management Inc. The company is developing patent-pending technologies to enhance pharmaceutical tablets.
Several previous shareholders participated in the current round, the company says. Formerly known as SoLapharm, the company has raised $22.4 million since its 2003 founding, including about $1 million from paid-in capital from the company’s founders and president.
It sold its common stock at $6.50 a share.
Accu-Break’s technologies enable pharmaceutical tablets to be broken into halves, thirds, or quarter doses easily. The company has filed 18 patent applications relating to its inventions.
The core insight of the Technologies is creation of an inactive segment of a pharmaceutical tablet that serves as the breaking region if a smaller dose, such as a half dose, is desired. Thus, inaccurate breaking of the tablet does not affect dosing, because the break region is pharmacologically inactive.
In a previous statement, Lawrence Solomon, M.D., co-founder, chair and CEO of SoLapharm stated: “Successful development of a family of Accu-Break-enabled products could lead to their becoming a preferred dosage form for the many medications that undergo dosage adjustment. Some of the types of drugs that often undergo dosage adjustment include treatments for high blood pressure, high cholesterol, diabetes, anxiety, depression, and pain.”
Accu-Break wants to license the technologies to other pharmaceutical companies.
ABP has also entered into a joint venture with Strides Arcolab Limited of India to develop and manufacture a line of bioequivalent (generic) products for the U.S. and international markets.
For more information see: www.accubreakpharmceuticals.com
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