RYE, N.Y., Aug. 10 Curemark, a privately held drug research and development company, announced today that it has closed a $6.5M Series A round of funding. Curemark has an open IND for its novel technology for CM-AT for autism. Phase III clinical trials are about to begin at 11 sites across the country.
"The Series A funding will allow us to complete our clinical trials for autism as well as submit multiple IND's for our other pipeline indications," states Dr. Elisa Zinberg Curemark's Vice president of Operations. "Our ability to complete this round of funding through private sources is an outstanding achievement in this economic environment," further states Dr. Zinberg.
With 1 in 150 children diagnosed with autism and costs of $90 billion per year, Curemark has focused its initial product in its pipeline on this condition, which represents the greatest increase in disability in children in the United States.
About CUREMARK LLC
Curemark is a drug research and development company focused on the treatment of neurological and other diseases especially those with dysautonomic components by addressing certain key gastrointestinal/pancreatic secretory deficiencies. The company's initial products are based upon breakthrough observations by its founder, Dr. Joan Fallon, which revealed a lack of protein digestion in children with autism and ADHD. To learn more about our innovative science, visit www.curemark.com
This news release contains forward-looking statements that involve risks and uncertainties that could cause our actual results and experiences to differ materially from anticipated results and expectations expressed in such forward-looking statement. These forward-looking statements include, without limitation, statements regarding the mechanism of action of CM-AT, its potential advantages, its potential for use in treating autism, as well as the timing, progress and anticipated results of the clinical development and regulatory processes concerning CM-AT. These statements are based on our current beliefs and expectations as to such future outcomes, and are subject to known and unknown risks and uncertainties that may cause actual future experience and results to differ materially from the statements made. Factors that might cause such a material difference include, among others, risks that the results of clinical trials will not support our claims or beliefs concerning the effectiveness of CM-AT, our ability to finance our development of CM-AT, regulatory risks, and our reliance on third party researchers and other collaborators. We assume no obligation to update these statements, except as required by law.
SOURCE Curemark LLC