Ritter Pharmaceuticals Receives $20,000,000 New Funding Round
- Feed Type
- Link
http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=bc0fec94-173d-4837-a575-4bf5d535c08a - Date
6/25/2015 - Company Name
Ritter Pharmaceuticals - Mailing Address
1801 Century Park East Los Angeles, CA 90067 USA - Company Description
Ritter (NASDAQ: RTTR) is committed to the discovery, development and commercialization of novel therapeutic treatments for gastrointestinal diseases and conditions. - Website
http://www.ritterpharmaceuticals.com - Transaction Type
IPO - Transaction Amount
$20,000,000 - Transaction Round
Undisclosed - Proceeds Purposes
The principal purposes of this offering are to obtain additional capital to support our operations, to create a public market for our common stock and to facilitate our future access to the public equity markets. We intend to use the net proceeds from this offering as follows: approximately $9.4 million to fund the continued clinical development of RP-G28 for the reduction of symptoms associated with lactose intolerance, including our anticipated Phase 2b/3 trial and non-clinical development; approximately $2.5 million to fund expenses associated with the manufacture and product development of RP-G28; approximately $0.5 million to explore potential orphan indications; and approximately $5.0 million for general corporate purposes, general and administrative expenses, capital expenditures, working capital and prosecution and maintenance of our intellectual property. - M&A Terms
