Pharma – Trigemina completed a $4.5 million series A round of fundraising, led by Chile’s Aurus, and supplemented by a grant from the government of Chile. Proceeds from the financing will fund completion of the Phase II Trig-05 study, which is evaluating Trigemina’s lead intranasal oxytocin therapy candidate, TI-001, for treating chronic migraine.
CORFO is an agency of the Chilean government that provides entrepreneurs in Chile with grants and other resources to promote innovation, entrepreneurship and competitiveness. “Trigemina is a terrific example of the kind of company that CORFO seeks to encourage, a company that is developing innovative technology that has the potential to be very well received in a variety of markets,” comments Conrad von Igel, Director of CORFO’s Innovation Department. “By supporting projects like these, we hope to put Chile on the global map for innovation and entrepreneurship.”
“We are extremely pleased with the support shown by our investors and excited to be awarded this research grant from the Chilean government,” adds Charles Yeomans, Trigemina CEO. “This financing illustrates the confidence in TI-001′s potential to become a novel and safe non-opioid analgesic for the treatment of chronic and subacute head pain. These proceeds will help support clinical trials
surrounding the drug as we further evaluate its promise for patients with debilitating migraines.”
Trigemina says preclinical and human studies have shown that TI-001 is safe and effective for all forms of chronic and subacute head pain, with little to no side effects and no risk of developing addiction. The TRIG-05 Phase 2 study is a placebo-controlled, double-blind, randomized-withdrawal and enrolment enriched trial of TI-001 in chronic migraine patients. A total of 96 patients will be enrolled in four trial sites in Chile and another trial site in Argentina. The study’s primary objective is to demonstrate efficacy, tolerability and safety. Additional objectives will include determining the appropriate dose for a future Phase III trial, and to explore baseline IL-6 plasma levels as a potential biomarker for efficacy response.
Trigemina’s second pipeline product, TI-002, is a polypeptide, delivered via the nasal-cerebral pathway, which is in development as a potential treatment for a broad range of pain indications, including neuropathic pain. Phase I trials are expected to start during 2013.
June 17, 2013