Biopharmaceutical company Emmaus Life Sciences has raised approximately $1.7 million in gross proceeds from the sale of common shares to Korea Bio Medical Science Institute as part of a collaboration agreement between the two companies.
Emmaus specializes in the development of treatments for rare diseases. The funds it has raised will be used to advance its pharmaceutical-grade L-glutamine treatment, which is currently under clinical development, just having completed its Phase 3 trial for the management of sickle cell disease.
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SCD is an inherited blood disorder in which the body produces an altered form of hemoglobin; it polymerizes and becomes fıbrous, causing red blood cells to become rigid and change form so that they appear sickle-shaped instead of soft and rounded. Patients with SCD suffer from debilitating episodes of sickle cell crisis, which occur when the rigid, adhesive and inflexible red blood cells obstruct blood vessels. Sickle cell crisis causes inflammation, and excruciating pain as a result of insufficient oxygen being delivered to tissue. This can lead to organ damage, stroke, pulmonary complications, skin ulceration and infection.
KBMSI is a Korea-based bio-venture company focused on developing drugs for preventative medicine and chronic, incurable diseases.
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