Esperion Therapeutics Has Raised $33 Million to Finance Clinical Trials

by Kathy Jones on  April 26, 2013 at 9:14 PM Corporate News
RSS Email Print This Page Comment bookmark
Font : A-A+

American biotech company Esperion Therapeutics revealed that it has managed to raise $33 million through preferred stock financing which will be used on clinical trials.
 Esperion Therapeutics Has Raised $33 Million to Finance Clinical Trials
Esperion Therapeutics Has Raised $33 Million to Finance Clinical Trials

The Ann Arbor based company is currently in midst of the phase II trial of LDL-lowering pill, ETC-1002, which it says will be able to reduce levels of bad cholesterol by as much as 43 percent.

The CEO of the company, Tim Mayleben said that the money generated will be used on the trials, adding that they expect to publish the results of the trial by June.

Founded in 1998, Esperion was sold to Pfizer for $1.3 billion in 2004 before the company was relaunched in 2008 by Roger Newton, who led the development of Lipitor, which has so far generated $130 billion in sales.



Source: Medindia

Post a Comment

Comments should be on the topic and should not be abusive. The editorial team reserves the right to review and moderate the comments posted on the site.
Notify me when reply is posted
I agree to the terms and conditions

More News on:

Clinical Trials Clinical Trials - The Past and The Future Clinical Trials - Different Phases of the trial Placebo Effects: Rare Insights 

News A - Z

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

News Search

Medindia Newsletters

Subscribe to our Free Newsletters!

Terms & Conditions and Privacy Policy.

Find a Doctor

Stay Connected

  • Available on the Android Market
  • Available on the App Store

Facebook

News Category

News Archive