Momentum revs up for arGentis
Pharmaceutical firm in fast lane for clinical trials
arGentis Pharmaceuticals LLC is gaining momentum to get its first two therapies to the marketplace with a $10 million-$12 million capital campaign, new paths for clinical trials and a renowned business accelerator firm to help it find a drug development partner.
The Memphis pharmaceutical company is now negotiating with a clinical research organization to begin a Phase II trial of its dry eye therapy. That trial would take six weeks and company officials are hoping to conclude it in 2009. It would be followed by a lengthier Phase III trial. The therapy is projected to hit the market in 2013.