Home Business News Processa Pharmaceuticals to raise $10.2M  

Processa Pharmaceuticals to raise $10.2M  

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Hanover-based Processa Pharmaceuticals, a clinical-stage biopharmaceutical company developing products to improve the survival and/or quality of life for patients who have unmet medical needs, has executed a securities purchase agreement to raise gross proceeds of $10.2 million resulting from the sale of 1,321,132 shares through a private investment in public equity financing at a price of $7.75 per share.  

“We believe these additional resources position us to further advance our pipeline of drug candidates for those patients who need better treatment options in cancer and gastroparesis as well as patients who have no real FDA approved treatment for Necrobiosis Lipoidica,” said Dr. David Young, CEO and chairman of Processa. “We look forward to seeing the results from our interim analyses in the phase 1B PCS6422 study and the Phase 2B PCS499 study in the 2H 2021.” 

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