Medindia

X

Esperion Therapeutics Has Raised $33 Million to Finance Clinical Trials

by Kathy Jones on  April 26, 2013 at 9:14 PM Corporate News   - G J E 4
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
Advertisement

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.

Advertisement
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
Advertisement

Post your Comments

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.
User Avatar
* Your comment can be maximum of 2500 characters
Notify me when reply is posted I agree to the terms and conditions

You May Also Like