News Column

Lakewood-Amedex Raises $5.5 Million In Series C Preferred Stock Financing

July 5, 2014



By a News Reporter-Staff News Editor at Investment Weekly News -- Lakewood-Amedex Inc., a leading developer of novel anti-infective pharmaceuticals, announced that it has raised a total of $5.5 million, before fees and expenses, through a Series C Preferred stock offering from a group of accredited investors. Scarsdale Equities LLC of New York and San Francisco acted as the principal placement agent. The Company will use the proceeds to advance is novel broad-spectrum Bisphosphocin™ class of antimicrobials into human clinical trials.

Lakewood-Amedex CFO, E. Russell McAllister, who joined the Company in January and managed the relationships with Scarsdale Equities and Capital Guardian LLC, also a placement agent in the financing, remarked, "The Series C funding marks a major milestone for Lakewood-Amedex, providing the Company with sufficient capital to complete its first two human clinical trials for its lead Bisphosphocin™ product, Nu-3: a Phase I/IIa trial for infected complicated diabetic foot ulcers (cDFU), a topical indication, followed by a Phase I trial for several systemic infections such as complicated urinary tract infections (cUTI) by intravenous administration. These indications were specifically selected to rapidly demonstrate the broad-spectrum activity of the Bisphosphocin™ class against problematic chronic and acute infections due to their rapid bactericidal effect. Bisphosphocins™ represent a new paradigm in antimicrobial development because they are effective against both, gram-positive and gram-negative bacteria, including those caused by antibiotic-resistant strains such as MRSA, ESKAPE, and NDM-1 strains as well as biofilm encased bacteria."

Lakewood-Amedex intends to significantly increase its business development activities as a result of this funding, including seeking collaborations and partnerships to help develop its extensive portfolio of products. In particular, the Company will be seeking partners to continue development of its orally available 'gene silencing' nRNA therapeutics for the treatment of various viral indications, oncology applications, inflammatory conditions and other chronic human diseases.

Mr. McAllister continued, "It has been a pleasure to work with my former colleagues at both Scarsdale Equities and Capital Guardian in bringing about this financing through our relationships with knowledgeable and sophisticated investors that were able to appreciate the commercial and medical potential of our novel product portfolio."

Keywords for this news article include: Lakewood-Amedex Inc, Investment and Finance, Clinical Trials and Studies.

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Source: Investment Weekly News


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