TORONTO, Nov. 5 /CNW/ - AIM Therapeutics Inc. is pleased to announce that it has successfully completed a round of private equity financing of $4 million CDN. AIM Therapeutics is an early stage pharmaceutical company focused on developing breakthrough medical treatments for inflammatory and immune disorders including asthma, COPD, spinal cord injury, restenosis and diabetes. AIM has established two proprietary technology platforms: Neutropel and Ep1B. The company will use the capital to advance its lead compound, AIM-002, for the treatment of asthma through GMP manufacturing, pre-clinical toxicology and safety pharmacology studies and formulation development by the end of 2008. Upon successful completion of these activities, AIM-002 would be positioned for regulatory approval to initiate Phase I clinical studies. AIM-002 is based on the Company’s Neutropel technology platform, which has led to a series of small peptides that can be administered orally, by inhalation and by injection. These peptides work by preventing the adhesion and infiltration of neutrophils into surrounding tissue and inhibiting inflammation.
