A topical fat-burning gel is moving on step closer to market thanks to a new funding agreement. Topokine Therapeutics, a clinical-stage biotechnology company developing therapies for dermatology and medical aesthetics, has announced a financing arrangement with Boston-based investment firm Schooner Capital wherein Topokine will receive to immediate capital and the ability to draw additional capital to advance its pipeline products, including XAF5 Gel, a clinical-stage skin cream for local reduction of excess subcutaneous fat.
“We are delighted to partner with Schooner Capital,” said Murat Kalayoglu, MD, PhD, Topokine President and CEO. “Schooner's long-term commitment allows us to invest not only in the development of XAF5 Gel, but also other drugs in our pipeline.”
“Topokine is generating impressive results and intellectual property at a rapid pace,” said Ted Henderson , a managing director at Schooner Capital. “We are committed to seeing Topokine’s products get to market, whether by organic growth or with a best-in-class Pharmaceutical partner.”
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