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news.US-based specialty pharmaceutical company Yaupon Therapeutics has closed a $14.5 million round of venture capital financing that will support the advancement of Yaupon's multiple clinical programs.
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The venture capital financing was led by Vivo Ventures with additional funding from Palo Alto Investors, and private investors. The financing will support the ongoing clinical development program for Clearazide, a topically delivered cytotoxic agent for the treatment of cutaneous T-cell lymphoma (CTCL) that is currently in pivotal clinical studies.
The company believes the funding will position Yaupon to pursue neuropsychiatric indications such as attention deficit disorder (ADD) and Tourette’s syndrome for Lobeline, a dopamine modulating agent that is currently in Phase II trials for methamphetamine addiction. The funding will also help to bring Yaupon’s pain programs into clinical-stage development.
Robert Alonso, president and CEO of Yaupon, said: “This financing positions Yaupon to advance its clinical programs while also pursuing neuropsychiatric indications for Lobeline that will significantly expand our commercial opportunity in the years ahead.”