Curemark LLC has reportedly raised $18.5 million in common equity financing that the company intends to use to complete its new drug application (NDA) for the autism treatment CM-AT and to develop 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 Founder and CEO Joan Fallon. “In addition, the financing exhibits our investors’ continued confidence in the company and will enhance our development pipeline for Schizophrenia, ADHD and Parkinson’s [Disease].”
The Rye, New York-based drug research and development company previously announced the successful completion of its Phase III multicenter clinical trial of CM-AT for autism, and the drug met both primary and secondary endpoints in its double-blind, randomized placebo-controlled study of 3- to 8-year-old children with autism. The U.S. Food and Drug Administration reportedly designated CM-AT a “Fast Track” drug in 2010. See PRNewswire and medcitynews.com, October 8, 2013.