NEW YORK, July 13 /PRNewswire/ -- NexGenix Pharmaceuticals Holdings, Inc., a privately held New York biotechnology company focused on developing drugs to treat neurofibromatosis and related sporadic tumors, today announced the closing of a non-brokered private placement of its Series B Preferred Stock totaling $3.9 million.
“This additional funding has allowed NexGenix to progress the offshore clinical trials of its lead compound, NX101, a treatment for dermal neurofibromas in NF1, and to proceed with the development of a targeted treatment for NF2,” stated Allan E. Rubenstein, MD, Chief Executive Officer of NexGenix. “While our funding requirements will increase as we further advance these development programs, we are excited about our product platform and feel that we will be in a strong position to raise additional funds in the future.”
About NexGenix Pharmaceuticals
NexGenix Pharmaceuticals is a US-based biotechnology company focused on drug development for Neurofibromatosis Types 1 and 2 and related sporadic tumors. Neurofibromatosis, or NF, is a genetic disorder characterized by the development of tumors along nerves. These slowly growing tumors are resistant to radiation and chemotherapy and the only current treatment is repeated surgical removal. NexGenix has assembled a team of top NF clinicians and researchers on its Scientific Advisory Board and has developed a proprietary screening platform for both Neurofibromatosis Type 1 and 2. NexGenix will soon seek an IND for a unique treatment for NF1. A targeted treatment for NF2 is in preclinical development.
For more information, please visit the NexGenix website at http://www.nexgenixpharm.com. The information on our website does not, however, form a part of this press release.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Certain information contained in this news release is forward-looking and is subject to unknown risks and uncertainties. The actual results, performance or achievements of the company may differ materially from the results, performance or achievements of the company expressed or implied by such forward-looking statements.
NexGenix Pharmaceuticals Holdings, Inc.
CONTACT: Michelle Morin, Director of Corporate Development of NexgenixPharmaceuticals, +1-212-974-3006, mmorin@nexgenixpharm.com
Web site: http://www.nexgenixpharm.com/
