Jan 27, 2016 | By Kira
Aprecia Pharmaceuticals is the American pharmaceutical company leading the charge in 3D printed medicine. Using their proprietary ZipDose technology to create novel, quick-dispersing medicinal tablets, Aprecia recently developed the first ever FDA-approved 3D printed prescription drug, Spritam. Today, Aprecia has announced that it has completed a $35 million preferred stock financing, led by Deerfield Management Company LP. The capital boost will go towards advancing the commercialization of Spritam through an exclusive sales and marketing alliance with inVentive Health. The 3D printed, seizure treatment drug is expected to launch as early as the first half of 2016.
In addition to advancing the commercialization of Spritam, the $35 million investment will also accelerate the development of other novel 3D printed drug formulations. Aprecia is currently focusing on developing drugs for the central nervous system therapeutic area, where there is a need for medicines that are easy to take (patients suffering from seizures, for example, may not be able to properly swallow a normal pill, reducing the medicines effect), and plans to introduce multiple “highly prescribed, high dose” 3D printed medications to the pharmaceutical market.
As we have previously seen, 3D printed pills are revolutionizing the medical industry by making it personal. Unlike mass-manufactured pills, 3D printed drugs can be developed in small-batches or even on patient-specific basis, making life-saving medications customizable, cheaper, more accurate and more effective than ever before.
In Aprecia's case, powder liquid 3D printing, a method invented at MIT and applied by Aprecia through its ZipDoes 3D printing technology, allows for high-dosage powdered drugs to be bonded between liquid materials at the microscopic level. These 3D printed pills are thus extremely porous and dissolve rapidly on contact with liquids, making them easier to swallow for children, the physically impaired, or people experience seizures.
The $35 million financing round was led by Deerfield, an investment management firm that specializes in advancing healthcare and healthcare technologies. Additional participation came from JW Asset Management.
"The capital supplied by these prestigious firms, in conjunction with inVentiv Health's continuous commitment to commercialization of Aprecia products, provides the resources required for success as we prepare to transition to a commercial enterprise during the next three to six months," said Don Wetherhold, CEO of Aprecia.
In connection with the financing, all of Aprecia’s outstanding convertible debt held by its existing investors, including Great American Insurance Company and Scion Companies, was converted into preferred stock. Jonathan S. Leff, partner at Deerfield, as also joined Aprecia’s Board of Directors.
Posted in 3D Printer Company
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