TransPharma Medical Ltd (LOD, Israel), a specialty pharmaceutical company focused on the development and commercialization of drug products utilizing its proprietary RF-MicroChannelâ„¢ transdermal drug delivery technology, has raised $18 million in a Series C round of financing, led by Argonaut Private Equity and including an additional new investor, Teva Pharmaceutical Industries Ltd, as well as TransPharma's current investors.

TransPharma will use the funds to advance its lead investigational agent, transdermal human parathyroid hormone (hPTH [1-34]), into advanced clinical trials. Earlier this year, the company announced promising phase I clinical results demonstrating efficient and effective transdermal delivery of hPTH (1-34) for the treatment of osteoporosis. hPTH (1-34), a peptide fragment of PTH, which regulates the metabolism of calcium and phosphate in the body, possesses the same biologic activity as the naturally occurring, endogenous hormone hPTH (1-84). Of the many available drugs on the market for the treatment of osteoporosis, currently hPTH (1-34) is the only one to possess anabolic properties, stimulating new bone growth and resulting in an increase in bone strength and a decrease in fracture risk. However, hPTH (1-34) is currently available only as a daily injection (teriparatide [ForteoR], Eli Lilly and Co).

TransPharma's ViaDerm delivery system for hPTH (1-34) consists of a reusable, handheld device, a 1-cm2 disposable microelectrode array, and a compatible patch containing hPTH (1-34). The system is designed for home use, providing osteoporosis patients with a painless, user-friendly, low-cost alternative to the existing hPTH (1-34) injection. Within 1 second, the ViaDerm Micro device creates RF-MicroChannels, microscopic pores that penetrate the outer skin layer. These RF MicroChannels are then covered seamlessly with the patch, which diffuses the drug through the RF-MicroChannels into the skin's inner layers, and from there into systemic circulation.

TransPharma currently has a joint development agreement with Teva for up to five molecules. Under the agreement, Teva will exclusively market each of the drug products and will pay TransPharma milestone payments, royalties, and development costs.

— A. Techman

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