Breaking Industry News: Highland Therapeutics closes $25 million funding round
Highland Therapeutics announced today that it has completed a USD $25 million funding round. Founded in 2008, Highland Therapeutics uses proprietary drug-delivery technology to develop improved versions of existing drug products. The company’s lead products, HLD-100 and HLD-200, are novel formulations of the stimulants commonly used to treat Attention-Deficit Hyperactivity Disorder (ADHD).
With current ADHD medications, which are taken in the morning, there is a considerable lag between the administration of medication and its onset of action – leaving the patient effectively unmedicated during this period, which is often the most challenging and dysfunctional time of day for ADHD patients and their families. Highland’s products were designed to specifically target this unmet medical need.
Intended for night time dosing, the company’s products are designed to provide a consistent delay in the initial release of the active drug, followed by a period of extended release, with the objective of providing control of ADHD symptoms immediately upon wakening and throughout the day. Highland’s products, if approved, have the potential to change treatment paradigms in ADHD, given their potential to broaden the therapeutic window of treatment.
The company says it will be using the funds raised to complete the clinical development of HLD-200 through to a new drug application, conduct a Phase IIB/III study of HLD-100, expand manufacturing capacity and pursue pipeline expansion opportunities. David Lickrish, president and CEO, says the financing will help in “reaching a number of critical near-term milestones, including Phase III data for HLD-200.” Highland Therapeutics is a MaRS Health venture.