Square 1 Bank Announces Credit Facility to Auspex Pharmaceuticals
3/11/2013 10:21:24 AM
SAN DIEGO--(BUSINESS WIRE)--Square 1 Bank, the premier banking partner to entrepreneurs and the venture capital community, today announced that it has provided a term loan to new client Auspex Pharmaceuticals, a San Diego-based clinical stage biotechnology company. Proceeds will be used to supplement working capital while entering Phase 3 clinical trials for its leading compound SD-809. Located in La Jolla, CA, Auspex Pharmaceuticals is currently exploring the potential of certain compounds with deuterium to create superior therapeutics that will expand on many qualifying and already clinically validated drugs. Using these new advances in medicinal chemistry which allow less frequent dosings, Auspex hopes to minimize safety risks, drug-drug interactions, and development costs.