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 [email protected]. Follow him on Twitter @_DanaBart.
