Perosphere, which is less than three years old, does not have any drugs on the market yet. It is looking to improve the drug delivery methods for drugs already on the market, but also is working on new indications for already approved drugs, such as seeing if an anticonvulsant can be administered in such a way that it could reduce brain cell damage after a heart attack, stroke, or traumatic brain injury . It also is working on developing fast-acting rescue drugs.
The company's lead drug candidate, a reversal agent for anticoagulants, is in Phase II clinical trials.
"Perosphere is an emerging technology company that is at a pivotal growth point," said
The loan will help fund a 16,000-sq. ft. building, which will include both lab and manufacturing space. The company plans to grow to 30 employees.
The money for this project comes from
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