PRINCETON, N.J., Sept. 24 /PRNewswire-FirstCall/ -- DOR BioPharma, Inc. (DOR or the Company) , a late-stage biotechnology company, announced today that it has entered into common stock purchase agreements with institutional investors totaling approximately $3.85 million. DOR's North American commercial partner, Sigma-Tau Pharmaceuticals, Inc., participated in this financing.
"We are pleased with this vote of confidence and support from our partner Sigma-Tau and the institutional investors," stated Christopher J. Schaber, PhD, President and Chief Executive Officer of DOR. "This financing is designed to provide the fuel to complete our confirmatory Phase 3 clinical study of orBec(R) in the treatment of acute GI GVHD, an unmet medical need. We are looking forward to the imminent initiation of this trial."
About DOR BioPharma, Inc.
DOR BioPharma, Inc. (DOR) is a late-stage biopharmaceutical company developing products to treat life-threatening side effects of cancer treatments and serious gastrointestinal diseases, and vaccines for certain bioterrorism agents. DOR's lead product, orBec(R) (oral beclomethasone dipropionate or BDP), is a potent, locally acting corticosteroid being developed for the treatment of GI GVHD, a common and potentially life-threatening complication of hematopoietic cell transplantation. DOR expects to begin a confirmatory Phase 3 clinical trial of orBec(R) for the treatment of acute GI GVHD and a Phase 1/2 clinical trial of DOR201 in radiation enteritis in the second half of 2009. orBec(R) is also currently the subject of an NIH-supported, Phase 2, randomized, double-blind, placebo-controlled trial in the prevention of acute GVHD. Oral BDP may also have application in treating other gastrointestinal disorders characterized by severe inflammation. Additionally, DOR has a Lipid Polymer Micelle (LPM(TM)) drug delivery technology for the oral delivery of leuprolide for the treatment of prostate cancer and endometriosis.
For further information regarding DOR BioPharma, Inc., please visit the Company's website at www.dorbiopharma.com.
SOURCE DOR BioPharma, Inc.
CONTACT: Evan Myrianthopoulos, Chief Financial Officer, DOR BioPharma,
Web site: http://www.dorbiopharma.com/