LA JOLLA TO FILE FOR LUPUS DRUG
La Jolla Pharmaceuticals, based in San Diego, is to file an Investigational New Drug application in the USA for its lead product LJP 394, for the treatment of lupus. The product is based on the company's tolerance technology.
Tolerance technology functions through the utilization of what the firm calls "Toleragens," which are made of epitopes and carrier platforms. Epitopes are structural features on antigens that are recognized by antibodies and B cells. Toleragens bind to antibodies on the surface of B cells, thereby "tolerizing" them and halting antibody production.
La Jolla is also planning a stock offering of 2.6 million units; each unit consists of one share and one redeemable warrant to purchase half a share. At a proposed price of $5 per unit, the company expects a net return of around $11 million.
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