Dance Biopharm has announced the completion of a $9.5 million private placement that will fund clinical trials of its Dance 501 inhaled insulin. The Phase 2 program for Dance 501 is complete, according to the company’s web site, and Phase 3 trials are being planned. Earlier this month, Dance announced that it had hired Tyler Martin in the newly created position of President to help prepare for pivotal trials.
Dance Chairman and CEO John Patton commented, “This additional capital is important as we continue to prepare for more clinical trials for Dance 501, our inhaled insulin product candidate for diabetes, and we are delighted to have had SternAegis Ventures enable this successful and efficient financing.”
Read the Dance Biopharm press release.
