Portland area biotech raises $500K for cold sore treatment

Elizabeth Hayes, Portland Business Journal

Lake Oswego-based Topical Remedy LLC has raised $500,000 from angel investors as it prepares for another clinical trial to test its treatment for cold sores, according to a filing with the U.S. Securities and Exchange Commission.

Topical Remedy is preparing for a phase 2b trial for its topical treatment, said company founder and manager Brad Parrott.

The trials are being done in eight U.S. cities and managed by Benu BioPharma, based in Massachusetts. Parrott expects it will be another four years before the over-the-counter product is on pharmacy shelves.

“The results of the first clinical trial indicate significant superior efficacy to anything on the current OTC market,” Parrott said.

The total offering amount of the current fundraise was $4 million, according to the company’s Form D.

2016-09-23T15:28:37+00:00