ResQ Pharma Raises $725,000 and Scheduled to Meet FDA September 29th 2016
CHICAGO–(BUSINESS WIRE)–#EMA–ResQ Pharma, Inc., a biopharmaceutical company focused on
commercializing LipidRescue™ Therapy (LRT), which is a treatment for
various drug overdoses and poisonings, announces the completion of a
second seed-round of equity financing of $725,000.00. This financing
brings their total seed financing to $1,050,000.00. The company is
scheduled to meet the U.S. Food & Drug Administration (FDA) on September
29th 2016 regarding an application for LRT as a treatment for
local anesthetic systemic toxicity (LAST). The company also filed for
Orphan Drug Designation applications in both the US and European Union.
According to the Center for Disease Control and Prevention (CDC) 47,055
people died in 2014 from drug overdoses in the US. ResQ Pharma is
excited about the opportunity it has to attain regulatory market
approval for LRT and better address the situation by commercializing a
potentially life-saving therapy.
About LipidRescueTM Therapy (LRT)
ResQ Pharma’s lead product candidate is LRT, which refers to the
administration of a lipid emulsion with the intent of reducing the
life-threatening clinical manifestations of toxicity from excessive
doses of certain lipophilic drugs. It is already the opinion of the
American Heart Association and American College of Medical Toxicology
that where there is serious hemodynamic instability from local
anesthetic drugs with high lipid solubility, LRT is a reasonable
consideration for therapy, even if patient is not in cardiac arrest.
About ResQ Pharma
ResQ Pharma, Inc., is a biopharmaceutical company created to ensure
reliable, global use of LRT, a treatment for various lipophilic drug
overdoses and poisonings. For more information on ResQ Pharma, please
visit www.LipidRescue.com.
We are members of iBIO’s PROPEL,
EnterpriseWorks
Chicago, Chicago
Founders Circle, The
BUNKER and MATTER/CIMs!
We are also a Qualified New Business Venture for the Illinois Investment
Tax Credit Program. DLA Piper, LLP provided legal counsel for the
financing.
Forward-Looking Statements
This press release contains forward-looking statements for purposes of
the safe harbor provisions of the Private Securities Litigation Reform
Act of 1995. We may, in some cases, use terms such as “believes,”
“potential,” “proposed,” “anticipates,” “expects,” “plans,” “intends,”
“may,” “could,” “might,” “will,” “should” or other words that convey
uncertainty of future outcomes to identify these forward-looking
statements. Forward-looking statements include statements regarding our
intentions, beliefs, analyses or current expectations concerning, among
other things: our expectations regarding the clinical effectiveness and
safety of our product candidates and results of studies; and the timing
of and our ability to obtain U.S. Food and Drug Administration or other
regulatory authority approval of, or other action with respect to, our
product candidates and advancing studies for LRT. Any forward-looking
statements in this press release speak only as of the date of this press
release.
Contacts
ResQ Contact:
Paul Burton, JD,MBA | Chief Executive Officer
224-880-6001
| Paul@LipidRescue.com
or
For
Media:
Todd Beck | Beck Media
310-300-4800 | Todd@BeckMedia.com
