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news.Azelon Pharmaceuticals has secured $4.5m Series A financing from Prospect Venture Partners to support the development of ZT-034, a nasal spray formulation for the treatment of osteoporosis.
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Other Azelon investors are Lighthouse Capital Partners and Covington Venture Fund.
ZT-034, which comprises teriparatide (PTH1-34) is said to provide an alternative for patients at high risk of fracture.
Teriparatide is a Parathyroid hormone (PTH) analog which are an underutilized therapeutic option for osteoporotic patients at high risk of fracture, the company said.