Raleigh-based Aceragen, a biopharmaceutical company developing therapeutics for rare and orphan diseases, has acquired Arrevus, another Raleigh company with a similar focus.
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Two Triangle biopharmaceutical companies will now operate as one, as Aceragen buys Arrevus.
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The Raleigh-based firm was awarded a $300,000 grant in support of its novel chaperone protein inhibitor, ARV-1502, for the treatment of sepsis. Separately, it received $500,000 from the Department of Defense’s U.S. Army Medical Research and Development Command for the same inhibitor to accelerate wound healing.
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Orphan Drug Designation provides for close guidance by the FDA, potentially accelerating time to marketing approval and also includes the potential for orphan drug grants, tax credits, and seven-year market exclusivity upon marketing approval.
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Arrevus today announced the U.S. Food and Drug Administration (FDA) has granted Qualified Infectious Disease Product (QIDP) Designation for ARV-1801 (sodium fusidate tablet) for the treatment of pulmonary exacerbations in CF patients.
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The Raleigh-based firm recently received a $250,000 loan from the North Carolina Biotechnology Center to support its development of its Phase 3 drug candidate ARV-1801 for the treatment of pulmonary exacerbations in CF patients.
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Arrevus raised the money from one investor with $150,000 remaining to be sold, according to a filing with the Securities and Exchange Commission.
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Arrevus, a Raleigh-based biotechnology company, has raised $300,000 in a private debt and options offering, according to a securities filing.
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