New funding and efficacy data for Hatchtech

Hatchtech, Pty Ltd have announced the completion of their financing round and published new data on the active ingredient in their DeOvo pediculicide product.

Hatchtech, the Australian speciality pharma company, released a statement on 13 December 2012 confirming an AUS$6M (US$6.3M) financing which allows them to proceed with Phase III of the DeOvo product development. This follows on from a prior round of financing in May 2012.

The company have also published a comparative efficacy study of compound Ha44, the active ingredient in DeOvo in PLoSONE in November 2012.

The study demonstrates the efficacy of Ha44 (formal name 5,5'-dimethyl-2,2'-bipyridyl) as an insecticide at all stages of insect life cycle via binding to metal ions, in particular iron, copper and zinc. This follows on from a clinical trial of Ha44 in 2011.

Hatchtech are working towards filing a New Drug Application (NDA) with the US Food and Drug Administration (FDA) for DeOvo in 2014.