TFF Pharmaceuticals, which is developing DPI formulations based on its thin film freezing (TFF) technology, has announced an initial public offering of 4,400,000 shares of common stock at $5.00 per share. Earlier this year TFF announced that it had raised $8.17 million through a Series A preferred stock offering.
The company said that it expects to use the net proceeds primarily for development of two dry powder formulations for inhalation: TFF Vori voriconazole and TFF Tac-Lac tacrolimus. According to a prospectus, TFF is also developing a triple combination therapy for the treatment of COPD and is evaluating inhaled cannabidiol and vaccine formulations.
TFF has received US and European patents for its particle technology. In the prospectus, the company states, “While our TFF platform was designed to improve solubility of poorly water-soluble drugs generally, we have found that the technology is particularly useful in generating dry powder particles with properties that allow for superior inhalation delivery, especially to the deep lung, which is an area of extreme interest in respiratory medicine.”
Read the TFF Pharmaceuticals press release.
