Emmaus Life Sciences Inc., a biotechnology company based in Torrance, has raised $12 million in debt securities, according to securities filing.
The developer of a breakthrough medicine for sickle cell disease raised $12 million from sales of convertible debt securities to 18 investors, according to a Nov. 1 filing with the U.S. Securities and Exchange Commission.
Emmaus’ Endari drug, developed at LA BioMed on the campus of Harbor-UCLA Medical Center, is the first new treatment for sickle cell disease released in 20 years for adults and the first-ever treatment for children. It went on sale in January.
The inherited blood disorder affects 100,000 people across the nation, many of them African-Americans.
Highlights of a phase 3 clinical trial for the L-glutamine oral powder is expected to be announced in early December at an American Society of Hematology meeting in San Diego.
Health business reporter Dana Bartholomew can be reached at firstname.lastname@example.org. Follow him on Twitter @_DanaBart.