Pivotal Therapeutics tops initial financing goal by nearly $3 million for omega-3 therapies

Pivotal Therapeutics, a specialty pharmaceutical company with a focus on Omega-3 therapies, said it has raised $7.7 million through a debt financing, surpassing its previous capital raising goal.

The debt financing consisted of 7,744 units at a price of C$1,000 apiece, with the offering oversubscribed by 2,744 units, resulting in an increase of $2.7 million over the initial C$5.0 million target previously announced.

Pivotal is currently working to fully commercialize its Vascazen FDA-regulated medical food product, which was developed to lower cardiovascular health risks in Omega-3 deficient cardiac patients. This includes high triglycerides, or fatty substances in the blood that are associated with coronary disease.

More info