CALGARY- Oct 15, 2012 – XORTX Pharma Corp. today announced the completion of a first round of financing. Dr. Allen Davidoff stated, “The company has taken a strong step forward with the completion of this first series of financing of XORTX Pharma Corp. The combination of novel patents that protect this new area of drug therapy, strong non-clinical and positive phase II clinical data is attractive to our early investors”
This round of funding is anticipated to support the acquisition, licensing and additional intellectual property filings to strengthen and protect the field of uric acid lowering agents.
XORTX Pharma Corp. anticipates positive data from a second phase II proof of concept trial in obese adolescents with accompanying hyperuricemia in the upcoming months. The results of this trial will further validate the concept that serum uric acid greater than 5.5 mg/dL is a causative factor in hypertension.
About XORTX Pharma Corp… is a biopharmaceutical company dedicated to the discovery, development and commercialization of therapies that will improve patient health throughout the world. Revascor Inc has one primary program focused on the treatment of hypertension in adolescents with accompanying hyperuricemia. Secondary programs include uric acid lowering agents to treat insulin resistance and a diagnostic for detection of susceptibility to dermal rash and Stevens-Johnson Syndrome.
XORTX Pharma Corp. is a privately held company. For more information, please visit our web site at www.xortx.com.
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