MENLO PARK, Calif., Dec. 2, 2014 /PRNewswire/ -- BioPharmX Corporation (OTCQB: BPMX), a biotechnology company focused on the development of novel drug delivery products to address unmet needs in large, well-defined and underserved markets, today announced that it has submitted a request for a pre-IND (Investigational New Drug) meeting to the U.S. Food and Drug Administration (FDA) for the company’s topical antibiotic acne compound currently under development. The company plans to follow up by submitting a briefing package on a later date in support of a pre-IND meeting to review the company’s proposed strategy and plan for conducting safety and toxicology studies and human clinical trials required for approval of its acne product.
“This marks a major step in BioPharmX’s plan to introduce products that target large, multi-billion-dollar markets,” said Jim Pekarsky, chief executive officer and co-founder of BioPharmX. “Leading oral antibiotic acne products have potential side effects, and, as we move forward, we are hopeful that the initial pre-clinical results we’ve seen thus far for our topical antibiotic acne solution will eventually lead to an approved alternative,” said Pekarsky. “Longer term, we believe this potential product could be just one leg of a multi-faceted growth strategy BioPharmX has planned that is focused on the women’s health, dermatology, and otolaryngology health care segments.”
BioPharmX announced on November 10, 2014 that the company had secured up to $12 million in a Series A private placement (Series A). The total amount includes $2 million in funding subject to the company achieving certain milestones. The proceeds are being used to advance the company’s pipeline of products in the fields of women’s health and dermatology and to fund the near-term launch and commercialization of the company’s women’s health product.
About BioPharmX Corporation
BioPharmX Corporation (OTCQB: BPMX) is a Silicon Valley-based biotechnology company, which seeks to provide innovative products through unique, proprietary platform technologies for prescription, over-the-counter (“OTC”), and supplement applications in the fast-growing health and wellness markets, including women’s health, dermatology, and otolaryngology (ears, nose & throat). To learn more about BioPharmX, visit www.BioPharmX.com.
Forward-Looking Statements
Statements in this news release relating to the business of BioPharmX, which are not historical facts, are “forward-looking statements.” These forward-looking statements may be identified by words such as “expect,” “anticipate,” “believe,” or similar expressions that are intended to identify such forward-looking statements. All forward-looking statements are expressly qualified in their entirety by this cautionary statement and the risks and other factors detailed in the company’s filings with the Securities and Exchange Commission (SEC). Given these risks and uncertainties, you are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements included in this news release are made only as of the date hereof and the company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities law.
BioPharmX is a trademark of BioPharmX Corporation.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/biopharmx-corporation-announces-submission-of-pre-ind-meeting-request-to-the-us-fda-for-its-topical-acne-solution-300002864.html
SOURCE BioPharmX Corporation
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