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Radius Health Inc. is following up news of a $21.4 million tranche, announced last week, with positive results from a Phase 1b clinical trial of its osteoporosis treatment.
According to the Cambridge biotech, the transdermal BA058 Microneedle Patch showed in tests that it could deliver its anabolic drug, BA058, quickly and safely, without causing harm from longer wearing. It also showed that seven days worth of wearing the patch had signs of bone-building. The patch is based on 3M Drug Delivery Systems’ Solid Microstructured Transdermal Systems microneedle technology platform and is expected to enter Phase 2 trials next year to measure its effects on bone mineral density.
Radius Health also has an injection form of BA058 currently in Phase 3 clinical trials for daily use in treating osteoporosis.
Last week, the company reported taking in a $21.4 million tranche of a $91 million financing round announced in May. The funding brought in five new equity investors – BB Biotech AG, Brookside Capital, Saints Capital, Nordic Bioscience and Ipsen Pharma SAS – to join existing investors MPM Capital, BB Biotech Ventures, MPM Bio IV NVS Strategic Fund, The Wellcome Trust, HealthCare Ventures and Scottish Widows Investment Partnership. That funding, the company said, would support its Phase 3 trial of the injection form of BA058.
The company also took in its second tranch of the financing, a $27.65 million tranche, in November.
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