TESORX CLOSES SERIES A FUNDING ROUND
Capital injection accelerates development of oral testosterone product
Menlo Park (December 31, 2010) – TesoRx Pharma, LLC., a California‐based pharmaceutical company, announced today that it has completed its Series A funding round for an undisclosed amount.
The Series A funding was raised to progress the development of TSX‐002, an oral testosterone replacement therapy intended to capture a significant part of the $1Bn testosterone deficiency market in the USA.
TR Thirucote, the company’s CEO, said “We are delighted to close this funding round much sooner than expected. Through this Series A funding we have attracted a group of individuals with a strong understanding of the pharmaceutical industry that will be a great asset for the company in the future.”
He went on to say “We are maintaining our momentum in progressing TSX‐002 through the necessary regulatory processes. With a key FDA meeting coming up, we are confident of meeting our milestones and expect that the product will be ready for commercial exploitation as early as 2013.”
TesoRx Pharma LLC is focused on rapidly developing and commercializing pharmaceutical products in rare and specialty markets with limited treatment options and high unmet need. Its growing pipeline includes assets in urology, oncology and rare diseases that have been formulated with TesoRx’s proprietary proliposomal delivery technology. The company was founded in 2010 through a collaboration with Western University of Health Sciences that includes joint R&D efforts at the TesoRx Centre of Excellence in Pomona, California. More information at www.tesorx.com
Binay Curtis, Galaxy Six Strategies Public Relations: Binay@galaxysix.com