Newsletter

Lev Pharmaceuticals, Inc. Announces $21 Million Private Placement

2006

Overview

\"The net proceeds that we received will be used to complete our Phase III clinical trial for our lead product candidate, C1-INH for hereditary angioedema, and to advance our other development programs for C1-INH,\" continued Dr. [Joshua D. Schein, Ph.D.]. Based on its current cash balance and commitments, [Lev] believes that with the net proceeds received from this private placement, it should be able to maintain its current planned development activities and the corresponding level of expenditures through the launch of C1-INH for hereditary angioedema. No assurances, however, can be given that it will not need additional capital prior to such time. Lev is a biopharmaceutical company focused on developing and commercializing therapeutic products for the treatment of inflammatory diseases. Lev's product candidates are based on C1-esterase inhibitor (\"C1-INH\"), a human plasma protein that mediates inflammation and is potentially applicable as a treatment for a range of medical indications. The Company initiated a Phase III clinical trial of its lead product candidate, C1-INH for the treatment of hereditary angioedema, in March 2005. In November 2005, we initiated a Phase III clinical trial of C1-INH for the prophylactic treatment of HAE. In October 2005, we received fast track designation status by the FDA for the treatment of HAE. Lev is also developing C1-INH for the treatment of selective other diseases and disorders in which inflammation is known or believed to play an underlying role.

• Publisher: Business Wire
• Subject: Angioedema / Clinical trials / Drug development / Institutional investments / Investors / Joshua D Schein, PhD / Pharmaceutical industry / Private placement / Registration statements / Warrants