Respiratory diseases drug developer BioMarck Pharmaceuticals, whose lead compound is being studied as a chronic obstructive pulmonary disorder (COPD) treatment, is raising $2 million in financing, according to securities filings.
The Raleigh company has raised $266,446 in a mix of debt, options and warrants. So far, 20 investors have participated in the securities offering.
BioMarck’s lead compound, BIO-11006, is an inhalation solution that inhibits the secretion of mucus in the lungs as well as pulmonary inflammation. COPD, which the American Lung Association estimates affects more 12 million Americans, is the drug candidate’s first target but BioMarck says the compound could also address asthma and cystic fibrosis.
BioMarck last year completed a phase 2a clinical trial evaluating four different doses of BIO-11006 to evaluate its safety and effectiveness as a COPD treatment. At that time, BioMarck said it would later pursue a phase 2b trial to refine the dosage and confirm the compound’s safety data. The company has said it would seek a partner to take BIO-11006 into phase 3 clinical trials.
The technology that is the basis for BIO-11006 works by blocking the Marcks protein, which is involved in mucus secretion. BioMarck licensed the technology from North Carolina State University, where it was developed by Professsor Kenneth Adler.
BioMarck was awarded a patent on the technology in 2007.