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Osteal Therapeutics Closes An Oversubscribed $30 Million Series B Financing To Advance Platform Therapy For Treatment Of Musculoskeletal Infection

Mar 08, 2022•over 3 years ago

Amount Raised

$30 Million

Round Type

series b

Dallas

Description

Osteal Therapeutics, Inc. (“Osteal”), a clinical-stage biopharmaceutical company developing a new category of combination therapies for musculoskeletal infections, announced today the completion of an oversubscribed $30 million Series B equity financing. The proceeds will enable Osteal to continue development of its integrated technologies, advance the clinical development of its lead candidate, VT-X7 for treatment of periprosthetic joint infection and fund new research programs.

Company Information

Company

Osteal

Location

Dallas, Georgia, United States

About

Following the successful completion of an open-label Phase 2 trial, the company recently commenced enrollment of APEX, a randomized controlled study of VT-X7 in patients with chronic periprosthetic infections of the hip or knee. The company is leveraging the ability of concentrated, locally delivered antimicrobials to treat the bacterial biofilms typically responsible for musculoskeletal infections while minimizing off-target tissue exposure and associated adverse effects. The proceeds will enable Osteal to continue development of its integrated technologies, advance the clinical development of its lead candidate, VT-X7 for treatment of periprosthetic joint infection and fund new research programs.

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