by
Lynn Shapiro, Writer | August 13, 2009
Migraine drugs sales are about $2.5 billion a year, so the patch is a potential blockbuster.
IPO in the Offing?
Wall Street is paying increasing attention to NuPathe, now that the company has successfully completed its Phase III trial for the first medicine of its kind, and Hollingsworth is considering taking the company public, "if and when the time is right," she says, to give NuPathe more liquidity. Currently, the company is being funded with venture capital. To date, NuPathe has raised approximately $50 million from leading health care venture capitalists.
"The economic climate isn't right for a small, development stage biotechnology company to access the public markets through an IPO," she says. "But we'll certainly consider taking NuPathe public in the next couple of years, as the economy improves and NuPathe grows."
Parkinson's Product
She says that NuPathe--dedicated to treating central nervous system disorders--also has a Parkinson's disease product in its pipeline. This product delivers a dopamine agonist over a three-month period using NuPathe's biodegradable implant technology. Hollingsworth says she can't disclose which drug the PD device will deliver just yet.
Approximately 30 million Americans have migraines, according to the National Headache Foundation.
Source: NuPathe
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