RYE, New York, Oct. 8, 2013 — Curemark LLC announced today the closing of $18.5 million in common equity financing led by a leading European institutional investor. Curemark will use the funds for the completion and filing requirements for its New Drug Application (NDA) for CM-AT, the company’s autism treatment, and the development of the other therapies in its pipeline.
“The completion of our latest financing allows us to determine the commercial pathway for CM-AT to bring it to the children who desperately need it,” said Dr. Joan Fallon, Curemark founder and CEO. “In addition, the financing exhibits our investors’ continued confidence in the company and will enhance our development pipeline for Schizophrenia, ADHD and Parkinson’s.”
Curemark previously announced the successful completion of its Phase III multicenter clinical trial of CM-AT for autism. CM-AT met both primary and secondary endpoints in its double-blind, randomized, placebo-controlled study of children with autism at 3 to 8 years of age. In April, Curemark announced the successful completion of its pre-NDA meeting with the U.S. Food and Drug Administration for CM-AT, which has been designated as a Fast Track drug by the agency.
Curemark is a drug research and development company focused on the treatment of neurological and other diseases, especially those with dysautonomic components, by addressing certain key gastrointestinal/pancreatic secretory deficiencies. The company previously announced that its Phase III double blind randomized placebo controlled multicenter clinical trial of CM-AT for autism met its primary and secondary endpoints. To learn more about our innovative science, visit www.curemark.com
This news release contains forward-looking statements that involve risks and uncertainties that could cause our actual results and experiences to differ materially from anticipated results and expectations expressed in such forward-looking statement. These forward-looking statements include, without limitation, statements regarding the mechanism of action of the Curemark product CM-AT, its potential advantages, their potential for use in treating diseases or disorders, as well as the timing, progress and anticipated results of the clinical development and regulatory processes concerning the Curemark product CM-AT. These statements are based on our current beliefs and expectations as to such future outcomes, and are subject to known and unknown risks and uncertainties that may cause actual future experience and results to differ materially from the statements made. Factors that might cause such a material difference include, among others, risks that the results of clinical trials will not support our claims or beliefs concerning the effectiveness of the Curemark product CM-AT, our ability to finance our development of CM-AT, regulatory risks, and our reliance on third party researchers and other collaborators. We assume no obligation to update these statements, except as required by law.