Ritter Pharmaceuticals Receives $20,000,000 New Funding Round

  • Feed Type
  • Date
    6/25/2015
  • Company Name
    Ritter Pharmaceuticals
  • Mailing Address
    1801 Century Park East Los Angeles, CA 90067 USA
  • Company Description
    Ritter (NASDAQ: RTTR) is committed to the discovery, development and commercialization of novel therapeutic treatments for gastrointestinal diseases and conditions.
  • Website
    http://www.ritterpharmaceuticals.com
  • Transaction Type
    IPO
  • Transaction Amount
    $20,000,000
  • Transaction Round
    Undisclosed
  • Proceeds Purposes
    The principal purposes of this offering are to obtain additional capital to support our operations, to create a public market for our common stock and to facilitate our future access to the public equity markets. We intend to use the net proceeds from this offering as follows: approximately $9.4 million to fund the continued clinical development of RP-G28 for the reduction of symptoms associated with lactose intolerance, including our anticipated Phase 2b/3 trial and non-clinical development; approximately $2.5 million to fund expenses associated with the manufacture and product development of RP-G28; approximately $0.5 million to explore potential orphan indications; and approximately $5.0 million for general corporate purposes, general and administrative expenses, capital expenditures, working capital and prosecution and maintenance of our intellectual property.
  • M&A Terms