ALACHUA, FL -- (Marketwired) -- 04/23/18 -- CTD Holdings, Inc. (OTCQB: CTDH), a clinical stage biotechnology company that develops cyclodextrin-based products for the treatment of disease with unmet medical need, today announced that it has closed a private placement of its securities with a group of accredited investors that included several directors of the Company and members of management. Investors in the private placement purchased 20,000 "Units" at a price per Unit of $100.00. Each Unit consisted of one share of Series B Convertible Preferred that is convertible into 400 shares of common stock, and a seven-year warrant to purchase 400 shares of common stock at an exercise price of $0.25.
"We are pleased to again conclude a financing with significant insider participation," said N. Scott Fine, CTD Chairman and CEO. "We are excited to bring additional capital to the company in order to further develop our lead drug candidate, Trappsol® Cyclo™, as an intravenous treatment for Niemann-Pick Disease Type C."
Trappsol® Cyclo™, CTD's proprietary formulation of hydroxypropyl beta cyclodextrin, is currently being evaluated at clinical sites in the U.S., Israel, the UK, and Sweden for treatment of Niemann-Pick Disease Type C (NPC), a rare genetic disease that causes neurologic, liver, lung and other organ dysfunction and that is ultimately fatal.
"There is an enormous need for treatment options for NPC, a disease that devastates patients and families," said Sharon Hrynkow, Ph.D., Sr. VP for Medical Affairs, "We are pleased to be working with world-class physician scientists at each clinical site and look forward to advances in our clinical program that will help the NPC patient population."
Scarsdale Equities acted as CTD's financial advisor in the financing.
The securities sold in the private placement have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States in the absence of an effective registration statement or exemption from registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state.
About CTD Holdings:
CTD Holdings, Inc. is a clinical-stage biotechnology company that develops cyclodextrin-based products for the treatment of disease. The company's Trappsol® Cyclo™, an orphan drug designated product in the United States and Europe, is used to treat Niemann-Pick Disease Type C, a rare and fatal genetic disease, on a compassionate use basis as well as in formal clinical trials (two clinical trials for this indication are currently open Clinical Trials.gov NCT02939547 and NCT02912793). Additional indications for the active ingredient in Trappsol® Cyclo™, are in development. For additional information, visit the company's website: www.ctd-holdings.com
Safe Harbor Statement:
This press release contains "forward-looking statements" about the company's current expectations about future results, performance, prospects and opportunities. Statements that are not historical facts, such as "anticipates," "believes" and "expects" or similar expressions, are forward-looking statements. These statements are subject to a number of risks, uncertainties and other factors that could cause actual results in future periods to differ materially from what is expressed in, or implied by, these statements. The factors which may influence the company's future performance include the company's ability to obtain additional capital to expand operations as planned, success in achieving regulatory approval for clinical protocols, enrollment of adequate numbers of patients in clinical trials, unforeseen difficulties in showing efficacy of the company's biopharmaceutical products, success in attracting additional customers and profitable contracts, and regulatory risks associated with producing pharmaceutical grade and food products. These and other risk factors are described from time to time in the company's filings with the Securities and Exchange Commission, including, but not limited to, the company's reports on Forms 10-K and 10-Q. Unless required by law, the company assumes no obligation to update or revise any forward-looking statements as a result of new information or future events.
Source: CTD Holdings, Inc.