This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Tioga Pharmaceuticals Raises $10 Million To Advance Phase 3 Clinical Development Of Asimadoline In Irritable Bowel Syndrome

SAN DIEGO, April 12, 2012 /PRNewswire/ -- Tioga Pharmaceuticals, Inc. today announced the closing of a $10 million Series B equity financing led by new investor Thomas, McNerney & Partners, which invested $8 million in the round. In connection with the financing, Jason Brown, Ph.D., principal at Thomas, McNerney & Partners, has joined Tioga's board of directors.  Existing investor Genesys Capital Partners also participated in the financing.

Tioga is currently conducting a Phase 3 trial of its compound, asimadoline, for the treatment of diarrhea-predominant irritable bowel syndrome (D-IBS) under a special protocol assessment with the U.S. Food and Drug Administration (FDA). The 600-subject randomized, double-blind, placebo-controlled clinical trial is one of two registration trials required for approval in the U.S. Asimadoline has also been granted Fast Track designation by the FDA for the treatment of D-IBS.

Stuart Collinson, Ph.D., chairman and chief executive officer of Tioga, said, "We welcome Jason Brown as an investor and board member at an exciting time for Tioga as we advance asimadoline's Phase 3 program.  The program has a clear and expedited regulatory path, and a long patent life."

"Tioga marks our third new investment in Southern California since we opened our San Diego office last year, and is a great example of the continuing growth of life sciences in the region," said Dr. Brown. "Asimadoline is an attractive, novel, late-stage medicine that has the potential to fulfill the substantial unmet need in D-IBS.  It has demonstrated impressive efficacy in D-IBS patients, and an excellent safety profile in more than 1,100 subjects."   

In September 2009, Ono Pharmaceutical Co., Ltd. licensed exclusive rights from Tioga to develop and commercialize asimadoline in Japan, South Korea and Taiwan. Tioga retains all other rights to the compound.

About AsimadolineIn a 596-subject Phase 2b clinical trial asimadoline demonstrated statistically significant results in the treatment of D-IBS patients with at least moderate pain across multiple parameters including endpoints of pain, urgency, frequency and bloating in both males and females. A therapeutic benefit was observed within the first month of treatment and was sustained for the three month duration of the trial.  Asimadoline was well tolerated with no adverse events occurring in a dose-dependent manner throughout the randomized, double-blind, placebo-controlled, dose-ranging clinical trial.  Asimadoline is protected by an extensive worldwide patent estate.  This includes a recently issued U.S. patent claiming the use of asimadoline for the treatment of D-IBS, which expires in 2028.

Asimadoline is an agonist of the kappa opioid receptor with high selectivity over other opioid receptors such that it does not produce classical mu-opioid like effects (such as constipation and dependence). Asimadoline is administered orally and is thought to act within the gut wall to inhibit sensory nerves that transmit pain signals and enteric nerves that regulate bowel movements.  Preclinical studies show that expression of kappa-opioid receptors is increased in visceral hypersensitivity, which is common in D-IBS patients. Asimadoline may act upon this up-regulated kappa-opioid receptor system to inhibit the effects of visceral hypersensitivity, thus inhibiting pain and reducing overactive bowel function.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.74 -1.15%
FB $117.58 0.73%
GOOG $693.01 0.29%
TSLA $240.76 -2.81%
YHOO $36.60 0.03%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs