LOS ANGELES--(BUSINESS WIRE)--Turn Therapeutics, an innovative biotech company, launched its first public investment campaign today to fund clinical trials of its Food and Drug Administration-cleared antimicrobial ointment for two potential new drug indications: moderate to severe eczema and onychomycosis, or toenail fungus.
This public financing on a Regulation Crowdfunding exchange empowers anyone to invest in Turn Therapeutics, not just institutional or accredited investors, as would typically be the case for companies not yet listed on a public stock exchange.
"Independent studies have shown that this already well-known formula has potential in other high-need indications," said Bradley Burnam, founder and CEO of Turn Therapeutics. "I developed Hexagen as part of a desperate effort to stop a recurrent infection that five years of surgeries and modern medicine couldn't. We've already helped more than 200,000 patients -- now we have the chance to help millions more."
Patients with moderate to severe eczema and toenail fungus are vastly underserved. Today, 20% of children and 10% of adults suffer from eczema, and 10% of the global population has toenail fungus. Existing treatments for moderate to severe eczema range from expensive injectables to potentially harmful steroids. Existing topical toenail fungus drugs struggle to reach 20% efficacy in clinical trials.
The same Hexagen formula has already been cleared by the FDA to manage eczema symptoms. But additional studies have shed light on its potential to address the root cause of eczema, namely excess bacteria in the skin of eczema sufferers that leads to inflammation. Investigator-initiated research has also shown the formula's potential to clear toenail fungus at over 70%. And with over 200,000 uses of the formula in advanced wound care, the safety database is well established.
Turn Therapeutics will use the money raised from investors to conduct clinical trials that it expects will yield formal safety and efficacy data needed to secure FDA new drug approval for these new indications.
"We made a conscious choice to invite the public to invest earlier in these drug programs, rather than simply wait until the company is formally traded on a stock exchange. The traditional pharma algorithm has never fit us. We had FDA clearance before our first investors. We pass our leanness and efficiencies to patients in the form of safe, effective, affordable medicines for everyone. It will be far more meaningful to the organization when the same people who may someday benefit from these new drugs are also an integral part of bringing them to market," Burnam said. "We intend to prove via this financing that you can still do both good and well."
To learn more, visit turntherapeutics.com/invest.
For more information or to schedule an interview with Turn Therapeutics CEO Bradley Burnam, please contact Lucia Orlandi at (202) 970-9745 or lucia@keybridge.biz.
About Turn Therapeutics
Turn Therapeutics is a pharmaceutical and medical device company focused on advanced wound and dermatologic care. Turn's technology targets broad indications with few safe or effective options, such as moderate to severe eczema and onychomycosis. Leveraging the guidance and data produced by medical experts, Turn's innovative flagship formula continues to suggest remarkable efficacy for a variety of indications. Visit turntherapeutics.com.
The statements contained herein may include prospects, statements of future expectations, and other forward-looking statements that are based on management's current views and assumptions and involve known and unknown risks and uncertainties. Actual results, performance, or events may differ materially from those expressed or implied in such forward-looking statements.
