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ARTICLE | Financial News

Drug delivery play Intec raises $50M

August 18, 2017 4:29 PM UTC

On Aug. 16, Intec Pharma Ltd. (Tel Aviv; NASDAQ:NTEC) raised $50 million through the sale of 10.6 million shares at $4.70 in a follow-on underwritten by Oppenheimer, Roght Capital Partners and Maxim Group.

Intec expects to report data in 2H18 from a Phase III trial of Accordion Pill Carbidopa-Levodopa (AP-CD/LD) to treat Parkinson’s disease. The company hopes to seek regulatory approval based on that data in 2019. In a crossover Phase II trial, two dose regimens of the gastric retention formulation of carbidopa and levodopa met the primary endpoint of reducing PD patients' total daily "off' time. Compared to optimized levodopa treatment, those doses lowered "off" time by 44% and 45% (p<0.0001)...

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Intec Pharma Ltd.