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news.Romark Laboratories, a privately-owned biotechnology company, has raised $18 million in institutional financing with the D E Shaw Group.
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The proceeds from this financing will enable Romark to advance development of its lead compound, nitazoxanide, for the treatment of hepatitis C, and advance its next-generation thiazolide drug candidates for the treatment of hepatitis B and C and other viral diseases.
Romark is currently conducting a US Phase II trial of nitazoxanide in hepatitis C patients who have failed standard treatments, and expects to begin a US Phase II trial in treatment naive patients in the first quarter of 2008.