HIGH POINT, N.C., Sept. 13, 2017 /PRNewswire/ Axium Pharmaceuticals Inc. ("Axium" or the "Company") today announced the filing of a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (the "SEC") relating to a proposed initial public offering of shares of its Class A common stock.
A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
A copy of the Company's Form S-1 filing, once available, can be viewed on the SEC's website.
About Axium Pharmaceuticals Inc. Axium Pharmaceuticals Inc. is a pharmaceutical company aimed at utilizing drug delivery innovations for developing improved novel formulations and alternative dosage forms of existing biologically active molecules.
Axium's products are developed using highly effective technologies and have demonstrated usefulness in improvement of bioavailability and biological action of incorporated molecules.
Axiums's product candidates address various pharmaceutical markets, including neurological disorders, such as epilepsy and panic attacks, infectious diseases and diabetes.
The U.S. Food and Drug Administration (FDA) has approved lorazepam to treat anxiety-related disorders as well as epilepticseizures and it is currently marketed in injectable and tablet forms.
Axium believes that companies marketing these preparations have not sought FDA approval to use these medications for intranasal or transmucosal delivery. This alone puts Axium in the forefront of development of these products.
The leading cause of epilepsy-related death is believed to be Sudden Unexpected Death in Epilepsy (SUDEP). Axium is developing a product that can help stop a grand mal seizure quickly with little or no side effects. Time is of the essence in these situations and an intranasal spray is a quicker process and delivery method than conventional, epilepsy rescue pharmaceuticals currently available.
Axium has incorporated very specific pharmaceuticalratios based on extensive research into an extremely fast delivery system. Axium Rescue Intranasal Spray is a product that could save lives.
The FDA has accepted an orphan drug designation request for intranasal lorazepam (Tuveta), in the Treatment of Lennox-Gastaut syndrome using the formulation and rescue intranasal sprayer that Axium is developing.
Orphan drug designation could provide the following benefits to Axium in the development of intranasal lorazepam (Truveta), including protocol assistance offered by FDA, tax credits of 50% of the clinical drug testing cost awarded upon approval, Waiver of NDA/BLA application feethis is a $2.2 million value, seven-year market exclusivity, among many others.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
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SOURCE Axium Pharmaceuticals Inc.