Laguna Hills-based Hallux, an investigational-stage pharmaceutical company focused on developing a new dosage form and route of administration for treating onychomycosis, announced the completion of Series A financing of $7.1 million. Deerfield Management led the round.
Hallux is developing an investigational micro-insert for subungual delivery and treatment of distal lateral subungual onychomycosis. The dosage form is biodegradable and delivers high concentrations of terbinafine hydrochloride, the highly effective leading anti-fungal, directly and selectively to the site of infection. PK studies have demonstrated that terbinafine tissue concentrations in the nail bed and plate with a subungual insert are well in excess of those seen with continuous oral terbinafine (Lamisil®). This suggests that a subungual regimen could achieve a complete cure rate exceeding that of the current gold standard and with negligible systemic exposure.