Why a Raleigh drugmaker thinks it can raise $100M in 2020 - (Triangle Business Journal via NewsPoints Desk)

  • Marius Pharmaceuticals, which is developing an oral testosterone replacement therapy, has brought in $5.6 million in a fundraising round, advancing efforts to bring its canidate to market next year, reported Triangle Business Journal.

  • That funding is the second for the company, which was launched in early 2017 thanks a $21-million fundraising round led by Shah Capital.

  • Shalin Shah, Marius' chief financial officer and the director of private investments for Shah Capital, says the newest funding will finance Marius through the remaining Phase III trial of its lead candidate.

  • The executive says Marius has already seen promising data for the therapy, which received orphan status from the FDA, and expects to submit a new drug application in the first quarter next year.

  • Following that, the company plans to transform into a full-fledge commercial operation to market the drug, the news source said.

  • Shah indicated that the company believes independently commercializing the drug is more advantageous than other exit strategies.

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