Lakewood-Amedex Closes $5.5M Series C Round

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Lakewood-Amedex Inc., a Sarasota developer of anti-infective pharmaceuticals, announced today that it has raised a total of $5.5 million through a Series C Preferred stock offering from a group of accredited investors. The Company is developing a broad portfolio of innovative novel-approach anti-infective products in the treatment of serious infectious diseases, improving patient outcomes and significantly reducing the threat posed by antibiotic-resistant bacterial strains like MRSA, VRE, NDM-1 and biofilm strains. The Company will use the proceeds to advance is novel broad-spectrum Bisphosphocin class of antimicrobials into human clinical trials. Lakewood-Amedex CFO, E. Russell McAllister, who joined the Company in January and managed the relationships with Scarsdale Equities and Capital Guardian LLC, also a placement agent in the financing, remarked, “The Series C funding marks a major milestone for Lakewood-Amedex, providing the Company with sufficient capital to complete its first two human clinical trials for its lead Bisphosphocin product, Nu-3: a Phase I/IIa trial for infected complicated diabetic foot ulcers (cDFU), a topical indication, followed by a Phase I trial for several systemic infections such as complicated urinary tract infections (cUTI) by intravenous administration. These indications were specifically selected to rapidly demonstrate the broad-spectrum activity of the Bisphosphocin class against problematic chronic and acute infections due to their rapid bactericidal effect. Bisphosphocins represent a new paradigm in antimicrobial development because they are effective against both, gram-positive and gram-negative bacteria, including those caused by antibiotic-resistant strains such as MRSA, ESKAPE, and NDM-1 strains as well as biofilm encased bacteria.” Read more here.