NuPathe gets more funding to launch Zelrix migraine patch

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NuPathe gets more funding to launch Zelrix migraine patch

Post by Tee on Thu Jun 16, 2011 3:20 am

NuPathe gets more funding to launch Zelrix migraine patch
Philadelphia Business Journal - by John George , Staff Writer

Date: Tuesday, June 14, 2011, 10:16am EDT - Last Modified: Tuesday, June 14, 2011, 2:49pm EDT
Related: Health Care

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NuPathe Inc. said Tuesday it has received an additional $10 million term loan under its secured credit facility.

Jane H. Hollingsworth, CEO of NuPathe (NASDAQ:PATH), said the move will provide the Conshohocken, Pa., specialty pharmaceutical company with “additional financial flexibility” as it continues to prepare for the potential launch of Zelrix, a transdermal patch it has developed to treat migraine headaches.

The Food and Drug Administration is scheduled to rule on NuPathe’s new drug application for Zelrix in August. Hollingsworth said the company expects to launch the drug during the first half of next year.
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