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News Release - April 3, 2018
Biopharm Startup TFF Pharmaceuticals Raises $14M for Breakthrough Dry Powder Inhalation PlatformThe Series A financing will support further development of the Company's pipeline of transformative dry powder drugs for pulmonary diseases and conditions.
AUSTIN, Texas, April 3, 2018 -- (Healthcare Sales & Marketing Network) -- TFF Pharmaceuticals, Inc., an early-stage biopharmaceutical company focused on developing and commercializing innovative drug products for the treatment of lung diseases and conditions, announced it has closed an offering of Series A preferred stock for gross proceeds of $14 million. The offering will be used to accelerate development of the Company's pipeline of advanced performance dry powder drugs for the treatment of pulmonary diseases and conditions such as lung transplant, severe asthma, COPD, and pulmonary infections.
National Securities Corporation, a wholly-owned subsidiary of National Holdings, Inc. (NASDAQ: NHLD), acted as sole placement agent for the offering. The Liquid Venture Partners group at National Securities Corporation was responsible for sourcing and executing the $14 million offering.
Thin Film Freezing (TFF) Technology
An estimated 40% of approved drugs and nearly 90% of developmental pipeline drugs consist of poorly soluble molecules.¹ In early testing the Company's Thin Film Freezing (TFF) proprietary platform significantly improved the solubility of drugs that have poor water solubility. The TFF Pharmaceuticals platform does not require a proprietary device, excipient or delivery molecule to obtain deep lung delivery of small molecules, biologics, or uniform combo drugs of small molecules and/or biologics.
Drugs that have poor water solubility cannot currently be delivered in a dry powder format, and must be delivered via other means, for example, orally or intravenously. TFF Pharmaceuticals has generated numerous formulations for faster and more complete dry powder delivery to the lungs.
More Effective Dry Powder Drug Delivery Than Currently Available
TFF formulations avoid the negative side effects of other drug delivery methods by targeting the lungs directly. With the improved delivery and advanced absorption of the TFF platform, the Company expects these dry powder formulations, which can be delivered directly to the lungs via inhaler, will avoid certain negative side effects that result from other parts of the body unnecessarily absorbing the drug. The Company's initial focus is on dry powder drugs for inhalation of both biologic and small molecule drugs that currently cannot be formulated for dry powder delivery by other means.
The Company's Thin Freezing Film technology, with a combination of 30 patents and applications, is licensed exclusively from the University of Texas at Austin.
Robert Mills, TFF Pharmaceuticals CEO, stated, "We are excited with the strong investor interest in TFF and pleased to have this caliber of investors participate in our initial equity financing. The investment represents a strong vote of confidence in TFF's product pipeline of unique dry powder formulations for new pulmonary products; and our ability to generate dozens of potential drug candidates with promising commercial potential."
About TFF Pharmaceuticals, Inc.
TFF Pharmaceuticals, Inc. is an early-stage biopharmaceutical company focused on the development and commercialization of new inhalation products for the treatment of chronic respiratory diseases and lung conditions. In early testing the Thin Film Freezing (TFF) proprietary platform significantly improved the solubility of drugs that have poor water solubility.
The Company has generated numerous formulations for dry powder delivery to the lungs. The initial focus is on dry powder drugs for inhalation of both biologic and small molecule drugs that currently cannot be formulated for dry powder delivery by other means. TFF Pharmaceuticals expects that these dry powder formulations, which can be delivered directly to the lungs via inhaler, will avoid certain negative side effects that come from delivering these drugs systematically. For more information, visit www.tffpharma.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities described herein, nor shall there be any sale of any such securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.
Any statements in this release that are not historical facts may be considered to be "forward-looking statements." Forward-looking statements are based on management's current expectations and are subject to risks and uncertainties which may cause results to differ materially and adversely from the statements contained herein. Such statements include, but are not limited to, statements regarding TFF's expected use of the proceeds from the Series A financing round; the market opportunity for TFF's product candidates; and the business strategies and development plans of TFF. Some of the potential risks and uncertainties that could cause actual results to differ from those predicted include TFF's ability to: make commercially available its products and technologies in a timely manner or at all; enter into other strategic alliances, including arrangements for the development and distribution of its products; obtain intellectual property protection for its assets; accurately estimate its expenses and cash burn and raise additional funds when necessary. Undue reliance should not be placed on forward-looking statements, which speak only as of the date they are made. Except as required by law, TFF does not undertake any obligation to update any forward-looking statements to reflect new information, events or circumstances after the date they are made, or to reflect the occurrence of unanticipated events.
1. T Loftsson, ME. Brewster. Pharmaceutical applications of cyclodextrins: basic science and product development. J Pharm Pharmacol, 62 (2010), pp. 1607-1621.
Source: TFF Pharmaceuticals
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