Syntropharma advances transdermal drug patch with $2.4m
This article was originally published in Clinica
Syntropharma is looking to complete development of its skin patch treatment for depression after securing £1.25m ($2.4m) in its second fundraising round. The transdermal patch will deliver reformulated Selegiline, an off-patent monamine oxidase inhibitor primarily indicated for depression, but which also has applications in Parkinson's disease. Newton St Boswells, Scottish Borders-based Syntropharma expects to submit trial data of the product to the US FDA by Q2 2009, with view of a product launch in 2010. The financing will also be used to advance its pipeline products, which include a drug patch for treating delusional psychosis and another for managing alcohol and opioid addictions. Investors in Syntropharma include Scottish Enterprise, Highland Venture Capital, LINC, Chimaera Bio and TRI Cap.