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news.HemaQuest Pharmaceuticals has secured $13m in Series B financing to fund a Phase 2b clinical study of HQK-1001 in patients with sickle cell disease.
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HQK-1001 is an orally administered Short Chain Fatty Acid Derivative (SCFAD), and has been evaluated in a number of clinical trials in sickle cell disease and beta thalassemia.
The financing round is led by its existing investors, Aberdare Ventures, De Novo Ventures, Forward Ventures, Latterell Venture Partners and Lilly Ventures.
Phase 2b clinical study is a randomized double-blind placebo-controlled study evaluating lead product candidate HQK-1001 in patients with sickle cell disease.
HemaQuest chief executive officer John P Longenecker said this additional financing enables the company to continue HQK-1001 clinical development program for sickle cell.
The company expects to complete the Phase 2b study in early 2014.