Aprecia Pharmaceuticals Receives $ 35 Million to Advance 3D Printed Drugs

Aprecia Pharmaceuticals has received the approval from the U.S. Food and Drug Administration for the first 3D printed drug called SPRITAM in August last year. The company has now just completed a $ 35 million preferred stock financing led by Deerfield Management Company LP, with participation from JW Asset Management.

The proceeds will support the company to advance the commercialisation of SPRITAM through an exclusive sales and marketing alliance with inVentiv Health. The launch of their first 3D printed drug is scheduled for the fist half of 2016.

Additionally, Aprecia has plans to accelerate the development of new 3D printed drug formulations using their proprietary ZipDose technology platform. This platform is based on a 3D printing technology developed by the Massachusetts Institute of Technology (MIT), where multiple layers of a pharmaceutical compound powder are fused together using an aqueous binding fluid (see video below). This way, the company is able to 3D print tablets with a high drug load of up to 1,000 mg in a single dose, which rapidly disintegrate with just a sip of liquid. Especially children and seniors, as well as people with swallowing disorders can benefit from this form of medication.

“The capital supplied by these prestigious firms, in conjunction with inVentiv Health’s continuous commitment to commercialization of Aprecia products, provides the resources required for success as we prepare to transition to a commercial enterprise during the next three to six months,” said Don Wetherhold, CEO of Aprecia.

In connection with the financing, all of the company’s outstanding convertible debt held by its existing investors, including Great American Insurance Company and Scion Companies, was converted into preferred stock. In conjunction with the close of financing, Jonathan S. Leff, a partner at Deerfield, has joined Aprecia’s Board of Directors.