DURHAM, N.C., Aug. 30, 2011 /PRNewswire-iReach/
— CoLucid Pharmaceuticals, Inc., a privately held
biopharmaceutical company, announced today that it has raised $7.5
million of a planned $9.5 million convertible note financing from
its existing investors to support further late stage development of
lasmiditan. Participating in the financing were Pappas
Ventures, Domain Associates, Care Capital, Pearl Street Venture
Funds and Triathlon Medical Ventures.
“This financing provides important working capital for CoLucid
to further advance lasmiditan into Phase 3 development,” remarked
Thomas P. Mathers, Chief Executive Officer of CoLucid. “We
are embarking on additional clinical studies to further
differentiate lasmiditan’s safety profile from the triptan class of
anti-migraine agents, as well as discussing with the FDA our final
Phase 3 plans.” said Mr. Mathers.
The Company is speaking with potential partners and is
interacting with the FDA, and plans to advance lasmiditan into
pivotal studies in 2012.
Lasmiditan is a first-in-class Neurally Acting Anti-Migraine
Agent (NAAMA) designed to deliver efficacy in migraine without the
vasoconstrictor activity associated with previous generations of
migraine therapies. Lasmiditan is a member of a novel
chemical class called “ditans” and, unlike triptans, penetrates the
central nervous system (CNS) and selectively targets 5-HT1F
receptors expressed in the trigeminal pathway. Lasmiditan
does not interact with vasoconstrictor 5-HT1B/1D receptors
activated by triptans.
Five clinical studies have been successfully completed outside
of the U.S., including a Phase 2b double blind placebo controlled
oral dose ranging study treating a single migraine attack which was
completed in 2010. In the Phase 2b study, lasmiditan achieved its
primary endpoint of reducing a moderate or severe headache at