Berwyn-Based Pharma Firm Eyes Global Market with Help of Newly Hired Investment Bank
Berwyn-based Virpax Pharmaceuticals has hired investment bank Torreya Capital to pursue partnering and licensing deals for its experimental pain medicines in global markets, writes John George for the Philadelphia Business Journal.
Virpax develops non-addictive pain management medicines. Its lead product candidates — which incorporate the company’s three patented drug delivery platforms — are:
- Epoladerm, aimed at managing acute musculoskeletal pain and osteoarthritis
- Probudu, developed to manage post-operative pain
- Envelta, for acute and chronic pain
“There is a growing global demand for non-opioid, non-addictive pain treatments, and we believe that our product candidates can offer a competitive advantage,” said Virpax CEO Anthony Mack.
Founded in 2016, Virpax went public in February with an $18 million initial public offering. The IPO price was $10 per share.
San Diego-based Sorrento Therapeutics sued Virpax and its CEO last month. The former bought Mack’s previous company, Scilex. In the lawsuit, Sorrento alleges breaches of restrictive covenants by Virpax and Mack.
Mack said in a statement that the claims have no merit and that the company plans to defend itself in court.
Read more about Virpax Pharmaceuticals in the Philadelphia Business Journal.
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