Discovery Laboratories (DSCO), a specialty biotechnology company dedicated to advancing a new standard in respiratory critical care, has initiated the US commercial launch of Surfaxin (lucinactant) Intratracheal Suspension for the prevention of respiratory distress syndrome (RDS) in premature infants at high risk for RDS.
Surfaxin is the first FDA-approved synthetic, peptide-containing surfactant and the only alternative to animal-derived surfactants available in the US.
Discovery Labs chief executive officer John Cooper said, "The commercial launch of Surfaxin marks a significant milestone for Discovery Labs, but more importantly represents a long-awaited therapeutic option for the neonatology community and the fragile premature infants in its care."
Discovery Labs also announced today that, in accordance with the terms of its February 2013 $30m secured loan facility with Deerfield Management Company (Deerfield), it will be notifying Deerfield that it has now met the conditions to receive the final $20m advance under the facility.
Upon receipt of the $20m advance in early December 2013, the company will issue warrants to Deerfield for approximately 4.7 million shares at an exercise price of $2.81 per share.