AzurRx BioPharma (NASDAQ: AZRX), a company specializing in the development of non-systemic, recombinant therapies for gastrointestinal diseases, earlier this year announced the closing of a private placement financing (the “offering”). According to the update, AzurRx secured approximately $6.9 million in gross proceeds from certain accredited investors, with Alexander Capital LP acting as sole placement agent in the offering. The company intends to use net proceeds to eliminate short- and long-term indebtedness, as well as for general working capital purposes including product development. “We are very grateful for the continued support of our investors,” James Sapirstein, president and CEO of AzurRx said in the press release. “This financing allows us to achieve our short-term goals and continue the development of our MS1819 program for the treatment of exocrine pancreatic insufficiency in cystic fibrosis and chronic pancreatitis patients.”
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About AzurRx BioPharma Inc.
AzurRx BioPharma is engaged in the research and development of non-systemic biologics for the treatment of patients with gastrointestinal disorders. MS1819-SD recombinant lipase for exocrine pancreatic insufficiency (“EPI”) is the company’s lead development program, and additional early stage research is being conducted for the prevention of hospital-acquired infections. The company is headquartered in Brooklyn, New York, with scientific operations based in Langlade, France. Additional information on the company can be found at www.AzurRx.com.
NOTE TO INVESTORS: The latest news and updates relating to AZRX are available in the company’s newsroom at https://ibn.fm/AZRX
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