Turn Therapeutics invites public investment for expansion of flagship wound formula into eczema, toenail fungus
22 Mayo 2024 - 7:23PM
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.
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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.
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Lucia Orlandi lucia@keybridge.biz (202) 970-9745