Investment to Support International Clinical Program for Trappsol(R) Cyclo(TM)
ALACHUA, FL -- (Marketwired) -- 08/31/15 -- CTD Holdings, Inc. (OTCQB: CTDH), a biotechnology company that develops cyclodextrin-based products for the treatment of disease, today announced that it has closed on a private placement with a group of accredited investors, led by affiliates of Scarsdale Equities LLC of New York. Scarsdale Equities also acted as the company's financial advisor in the financing.
The transaction involved the issuance by the company of 1,300,000 shares of its common stock at a price per share of $0.50, resulting in $650,000 of gross proceeds to the company before fees and expenses. CTD previously closed four other private placements in which Scarsdale Equities was involved.
"We are very pleased with the efforts and attention of Scarsdale Equities on our behalf over the past two years," said CTD Executive Chairman N. Scott Fine.
The proceeds of the transaction will be used for the development of CTD's Trappsol® Cyclo™ orphan drug and implementation of the company's international clinical trial program. Trappsol® Cyclo™ is used to treat Niemann-Pick Type C, a rare and fatal genetic condition that typically develops in children under 10 years of age.
Dr. Sharon Hrynkow, a member of CTD's Scientific Advisory Board and Senior Medical Advisor to the company, added: "We are grateful for the continued support of experienced investors for our international clinical program. This support enhances our ability to work with world experts to gain regulatory approval for our cyclodextrin product, all to the benefit of NPC patients and families."
CTD Holdings has been supplying Trappsol® Cyclo™ to NPC patients and their physicians, under appropriate regulatory controls, worldwide since 2009. In the United States, patients are treated under FDA Investigational New Drug (IND) protocols supervised by a physician with permission under the FDA's expanded access or "compassionate use" program. In other parts of the world the treatment is often carried out under a named patient program using an established treatment protocol that is supervised by a physician.
The securities sold in the private placement have not yet 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 the Company:
CTD Holdings, Inc. is a biotechnology company developing cyclodextrin-based products for the treatment of disease, including Trappsol® Cyclo™, an orphan drug designated product, for the treatment of Niemann-Pick Type C, a rare and fatal genetic disease in young children. Additional indications for the active ingredient in Trappsol® Cyclo™, including peripheral artery disease, diabetic nephropathy, and acute viral infections, are also in development.
The company's other divisions distribute and manufacture the trademarked Trappsol® and Aquaplex® cyclodextrins, cyclodextrin derivatives, and cyclodextrin complexes for biotechnology and life science companies involved in the research, pharmaceutical, medical device, cosmetics and nutrition markets. They also operate the world's only cGMP pulse drying facility for the production of UltraPure™ cyclodextrin derivatives and pharmaceutical grade Aquaplex® cyclodextrin complexes and supply cyclodextrins to biotechnology and life science researchers around the globe from the world's largest catalog of cyclodextrins. For additional information, visit the company's websites: www.ctd-holdings.com and www.cyclodex.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.