Inotek Pharmaceuticals Corporation Announces Pricing of Initial Public Offering of 6,667,000 Shares of Common Stock and 5.0% Convertible Senior Notes due 2020

Inotek Pharmaceuticals Corporation (the “Company”) today announced the pricing of its initial public offering of 6,667,000 shares of its common stock at a price to the public of $6.00 per share for aggregate proceeds of $40 million, before underwriting discounts. All of the common stock is being offered by the Company. In addition, the Company has granted the underwriters a 30-day option to purchase up to an additional 1,000,050 shares of common stock to cover over-allotments, if any. The shares are expected to begin trading on the NASDAQ Global Market today under the symbol “ITEK.” Concurrently with this offering of common stock, the Company is also making a public offering of $20.0 million aggregate principal amount of its 5.0% Convertible Senior Notes due 2020 (the “Notes”) in an underwritten offering pursuant to a separate prospectus. The Company has granted the underwriters a 30-day option to purchase up to an additional […]

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Inotek Pharmaceuticals Announces Study Results Demonstrating Neuroprotective Properties of Trabodenoson, its Lead Drug Candidate for Glaucoma

Inotek Pharmaceuticals Inc., a leader in the development of innovative products for the treatment of glaucoma, today announced the results from a preclinical study demonstrating the ability of trabodenoson, an adenosine A1 mimetic in development for glaucoma, to protect against the loss of retinal ganglion cells in an acute high-ocular-pressure animal model of glaucoma. Retinal ganglion cells are the part of the nervous system responsible for relaying the visual image from the eye to the brain, and their death is what causes the irreversible vision loss associated with glaucoma. The results of this study were presented this month at the 2014 annual meeting of the Association for Research in Vision and Ophthalmology (ARVO). This preclinical neuroprotection study was designed to compare the protective effects of trabodenoson and brimonidine against vehicle in a rat model of ischemia-induced retinal ganglion cell (RGC) death. Trabodenoson was delivered as an eye drop at a […]

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Inotek Pharmaceuticals Initiates Phase 2 Study with Trabodenoson in Combination with Latanoprost for Patients with Glaucoma or Ocular Hypertension

Inotek Pharmaceuticals Inc., a leader in the development of innovative products for the treatment of glaucoma, today announced the initiation of a Phase 2 clinical study of its lead product, trabodenoson, in combination with the most widely-prescribed glaucoma drug, the prostaglandin analog latanoprost (LAT), in patients with elevated intraocular pressure (IOP) that remains uncontrolled despite ongoing treatment with latanoprost. The Phase 2 study is a randomized, double-masked, active-controlled, multicenter trial comparing trabodenoson plus LAT, to timolol (the active comparator) plus LAT, in 120 patients with ocular hypertension (OHT) or primary open-angle glaucoma (POAG). The study will measure the additive or synergistic IOP lowering effect of trabodenoson when combined with LAT, and will also evaluate the safety and tolerability of the combined treatment regimen. The total treatment time will be 3 months, during which the effect of trabodenoson will be evaluated following twice-a-day dosing (BID) and once-daily dosing (QD). Top line […]

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Inotek Pharmaceuticals Raises $21 Million to Support Ongoing Clinical Development of Trabodenoson, a Novel Eye Drop for the Treatment of Glaucoma

Inotek Pharmaceuticals Corp., a leader in the development of innovative products for the treatment of glaucoma, today announced that it has closed on a $21 million financing. Proceeds from this financing will be used to advance Inotek’s lead product, trabodenoson, a novel eye drop that increases aqueous fluid outflow via the eye’s trabecular meshwork, through Phase 2 studies in glaucoma. Later this year, Inotek expects to initiate a Phase 2 study designed to evaluate the efficacy and safety of trabodenoson when combined with latanoprost for the treatment of glaucoma patients whose intraocular pressure (IOP) is not well controlled by latanoprost therapy alone. All of the company’s existing investors, including Devon Park Bioventures, Rho Ventures, Care Capital, Medimmune Ventures and Pitango Venture Capital, participated in the financing. Concurrent with the equity financing, Inotek also secured $7 million in venture debt led by Horizon Technology Finance Corporation (NASDAQ: HRZN). In a recently […]

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Inotek Canadian Pharmacy Presents Positive Phase 2 Data of Trabodenoson in Glaucoma

Inotek Pharmaceuticals Corp., a leader in the development of innovative drug candidates to address significant diseases of the eye, today announced that a multi-center, randomized, double-masked, placebo-controlled, dose-ranging Phase 2 clinical trial to evaluate the efficacy and safety of its novel eye-drop trabodenoson, also known as INO-8875, in patients with primary open-angle glaucoma or ocular hypertension successfully achieved its primary and secondary endpoints. The data were presented at the Ophthalmology Innovation Summit in Chicago, IL. Trabodenoson was found to reduce intraocular pressure (IOP) by approximately 7 mmHg at 28 days (p< 0.001) and was safe and well tolerated with very good ocular tolerability and less eye redness (hyperemia) than currently approved glaucoma treatments. Trabodenoson is a first-in-class, highly selective A1 subtype adenosine mimetic for glaucoma and ocular hypertension that binds to epithelial cells in the trabecular meshwork, up-regulating gelatinases that clean out and remodel the meshwork, increasing outflow and restoring […]

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Inotek Pharmaceuticals to Present Phase 2 Data of Trabodenoson in Glaucoma at the Ophthalmology Innovation Summit

Inotek Pharmaceuticals Corp., a leader in the development of innovative drug candidates to address significant diseases of the eye, today announced that final data from a Phase 2 clinical trial of trabodenoson, also known as INO-8875, in patients with primary open-angle glaucoma or ocular hypertension will be presented at the Ophthalmology Innovation Summit on Thursday, November 8, 2012 at the Chicago Marriott Downtown Magnificent Mile in Chicago, IL. The data will be presented by Paul G. Howes, President and Chief Executive Officer of Inotek. The recently completed Phase 2 trial was a multi-center, randomized, double-masked, placebo-controlled, dose-ranging study to evaluate the safety, tolerability, pharmacokinetics, and efficacy of trabodenoson delivered as an eye-drop formulation in patients with primary open-angle glaucoma or ocular hypertension. The trial enrolled 144 patients with IOP greater than or equal to 24 mmHg.

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Inotek Pharmaceuticals Initiates Multiple-Dose Phase 2 Clinical Trial of INO-8875 in Patients with Glaucoma

Inotek Pharmaceuticals Corp., a leader in the development of innovative drug candidates to address significant diseases of the eye, today announced that it has initiated dosing in a multiple-dose Phase 2 clinical trial to evaluate the efficacy and safety of its novel eye-drop INO-8875 in patients with glaucoma. In an earlier Phase 1/2 single ocular dose clinical trial, INO-8875 was shown to significantly reduce intraocular pressure (IOP) in glaucoma patients. As a highly-selective adenosine-1 receptor agonist, INO-8875 reduces IOP by enhancing a natural mechanism for clearing protein material that clogs the major outflow pathway – the trabecular meshwork – as the eye with glaucoma ages. “Currently available first-line treatment options for glaucoma do not adequately reduce IOP in up to 40% of glaucoma patients,” said Paul G. Howes, President and Chief Executive Officer of Inotek. “In addition, there exist no approved products for glaucoma that act on the major pathway […]

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Inotek Pharmaceuticals Closes $18 Million Preferred Stock Financing

Inotek Pharmaceuticals Corp., a leader in the development of innovative drug candidates to address significant diseases of the eye, today announced it has closed an $18 million preferred stock financing. Proceeds from the financing will be used to advance Inotek’s novel eye-drop INO-8875 through multiple-dose Phase 2 clinical trials in glaucoma. In an earlier Phase 1/2 clinical trial, INO-8875 was shown to significantly reduce intraocular pressure in glaucoma patients. Devon Park Bioventures, a new investor, led the round with participation from existing investors Rho Ventures, Care Capital, Pitango Venture Capital, MedImmune Ventures, and Bio*One Capital. “We are pleased to receive such financial support from Devon Park and our current investors to advance the clinical development of INO-8875, including the initiation of a multiple-dose Phase 2 clinical trial later this month,” stated Paul G. Howes, President and Chief Executive Officer of Inotek. “INO-8875 is a first-in-class product candidate with an elegant […]

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Inotek Pharmaceuticals Presents Preclinical Data at ARVO Confirming that INO-8875 Lowers IOP by Increasing Outflow through the Trabecular Meshwork

Inotek Pharmaceuticals Corp., a leader in the development of innovative drug candidates to address significant diseases of the eye, today presented results confirming the mechanism of action of the Company’s lead glaucoma candidate, INO-8875, as a trabecular meshwork outflow enhancer. Studies were conducted in human trabecular meshwork cells and multiple preclinical models. INO-8875 has successfully completed a single-dose Phase 1/2 trial in glaucoma and is expected to enter Phase 2 trials with an eye-drop formulation in mid-2010. The data was presented in a poster presentation at the Association for Research in Vision and Ophthalmology (ARVO) Annual Meeting in Ft. Lauderdale, FL. INO-8875 in an eye-drop formulation dose-dependently lowered intraocular pressure (IOP) by 20-25% from baseline at 1-2 hours after single doses in normotensive eyes. The IOP-lowering effect of INO-8875 was sustained for 4-6 hours post-dose. In human trabecular meshwork cells, INO-8875 rapidly activated the extracellular signal-regulated kinases 1/2 and stimulated […]

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Inotek Pharma to Present New Preclinical Data on Novel Mechanism of Action for Lead Glaucoma Candidate INO-8875

Inotek Pharmaceuticals Corp., a leader in the development of innovative drug candidates to address significant diseases of the eye, announced that the Company will present results from preclinical studies demonstrating the mechanism of action for the Company’s lead glaucoma candidate, INO-8875. INO-8875 has successfully completed a single-dose Phase 1/2 trial in glaucoma and is expected to enter Phase 2 trials with an eye-drop formulation in mid-2010. The data will be presented in poster presentations at the Association for Research in Vision and Ophthalmology (ARVO) annual meeting in Ft. Lauderdale, FL, being held from May 2-6, 2010.

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