Market Overview

Zurex Pharma, Inc. Announces Capital Raise of $9,000,000 In Advance Of Pending New Drug Application Submission


Zurex Pharma, Inc. ("Zurex" or "the Company"), a medical technology
company developing a novel platform of antimicrobial products designed
to minimize and prevent health care-associated infections, today
announced a significant capital raise ahead of its first New Drug
Application (NDA) submission. The equity financing was led by the
Company's current shareholders with a portion of the funding comprised
of debt financing provided by Square 1 Bank, a division of Pacific
Western Bank ("Square 1"), a full service banking partner to
entrepreneurs and their investors. The capital will be used to support
Zurex's pending NDA submission and review by the US Food and Drug
Administration (FDA) for sales and marketing approval of its
pre-surgical skin preparation product, ZurexPrep™, and will also fuel
ongoing platform development activities.

"We are very excited about the near-term NDA submission for our first
product, ZurexPrep™," said Carmine Durham, Zurex's President and CEO.
"Our team is grateful for our strong and supportive investor base and
glad to have Square 1 on board as our financial services partner."

Surgical site infections (SSIs) are the most costly hospital-acquired
infection, with associated costs ranging from $3.5 billion - $10 billion
per year. In addition to the economic burden, SSIs typically cause
prolonged patient suffering and hospitalization and can significantly
increase the risk of death. The vast majority of SSIs are caused by
normally harmless native bacteria on a patient's skin or body migrating
into a surgical wound; however, no new health care antiseptic
alternatives or pre-surgical skin preparations, designed to safely and
effectively disinfect the surface of the skin prior to a surgical
procedure, have been introduced in almost two decades.

Zurex successfully completed its pivotal Phase 3 clinical trial program
for ZurexPrep™, demonstrating favorable efficacy results compared to the
market leading product, and is in the final stages of formally
submitting the ZurexPrep™ NDA to the FDA in pursuit of sales and
marketing approval. Mr. Durham added, "Successful clinical development
and regulatory approval of the ZurexPrep™ product line further validates
our antimicrobial platform and opens up numerous opportunities for a
portfolio of new infection prevention and wound care products."

About Zurex Pharma, Inc.

Zurex Pharma, Inc. (
is a specialty pharma and medical technology company with a novel
antimicrobial technology platform. The Company's mission is to develop
and commercialize a portfolio of new antimicrobial products designed to
prevent Health Care-Associated Infections with a focus on surgical site
wounds and catheter-related infections.

About Square 1 Bank

Square 1 Bank is a division of Pacific Western Bank, a Los Angeles-based
commercial bank with over $24 billion in assets. A full service
financial services partner to entrepreneurs and their investors, Square
1 provides clients flexible resources and attentive service to help
their companies grow. Square 1 offers a broad range of venture debt,
treasury and cash management solutions through offices in top innovation
centers: Atlanta, Austin, the Bay Area, Boston, Chicago, Denver, Durham,
Los Angeles, Minneapolis, New York, San Diego, Seattle and Washington,
DC. Pacific Western Bank is a wholly-owned subsidiary of PacWest Bancorp
(NASDAQ:PACW). For more information, visit

View Comments and Join the Discussion!