Ex-Al­ler­gan team at Bon­ti rais­es $15.5M for an­oth­er neu­ro­tox­in; Shire com­mits to pub­lish­ing in open ac­cess jour­nals on­ly

→ Fauad Hasan and his team of fel­low for­mer Al­ler­gan ex­ecs at Bon­ti has raised $15.5 mil­lion in Se­ries C fund­ing for the de­vel­op­ment of their lead prod­uct, a bot­u­linum neu­ro­tox­in dubbed EB-001, for ther­a­peu­tics and aes­thet­ic us­es. If it sounds like Botox, that’s no co­in­ci­dence — be­tween the lead­er­ship team, Bon­ti has a wealth of ex­pe­ri­ence in de­vel­op­ing, man­u­fac­tur­ing and strate­giz­ing for the wrin­kle-re­duc­ing drug that has wide ap­pli­ca­tions on- and off-la­bel. For now, the New­port Beach, CA biotech is tar­get­ing pain, and plan­ning to chan­nel some of the funds to a PhII tri­al test­ing EB-001 as an opi­oid al­ter­na­tive. David Ram­say, new­ly ap­point­ed CFO, will help man­age the pool of mon­ey.

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