MIAMI, Jan. 18, 2013 /PRNewswire/ -- Biscayne Pharmaceuticals, Inc. today announced that it has closed a $1.5 million financing. The new company is developing novel growth hormone-releasing hormone (GHRH) drugs based on recent discoveries by the company's scientific advisor, Dr. Andrew V. Schally , a world-renowned drug researcher and Nobel laureate who pioneered the field of hypothalamic peptide drugs. Biscayne also announced that it has exclusively licensed intellectual property from the University of Miami that includes worldwide rights to the Schally GHRH technology, including GHRH antagonists with potential in the treatment of cancer and GHRH agonists with potential as an innovative approach to treating heart disease.
Dr. Schally, the Distinguished Leonard M. Miller Professor of Pathology & Professor of Hematology and Oncology at the University of Miami Miller School of Medicine, was awarded the Nobel Prize in Medicine for his breakthrough work on peptide hormones and the brain. He has had a prolific career as the inventor of many important new drugs, having discovered a number of agents based on luteinizing hormone-releasing hormone (LHRH). Products stemming from his discoveries continue as mainstays of therapy in oncology and gynecology and generate billions of dollars in sales each year.
Dr. Schally commented, "New GHRH analogs are the latest in a line of synthetic hypothalamic hormones with potential as novel therapeutics for multiple diseases. A number of our GHRH antagonists have demonstrated promising preclinical activity against many types of cancer, including hard-to-treat prostate cancer, and our GHRH agonists may represent a wholly new regenerative approach to treating heart disease. GHRH analogs may also have utility in other conditions, such as Alzheimer's disease. I look forward to working with the accomplished team at Biscayne
|SOURCE Biscayne Pharmaceuticals|
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