HedgePath Pharmaceuticals To Receive $2.5 Million in Funding From Mayne Pharma

HedgePath to shortly commence Phase II(b) skin cancer trial using Mayne Pharma s SUBA™-Itraconazole TAMPA, Fla. and SAN DIEGO, May 18, 2015 /PRNewswire/ HedgePath Pharmaceuticals, Inc., (OTCQB: HPPI) a clinical stage biopharmaceutical company that discovers, develops and plans to commercialize innovative therapeutics for patients with cancer, announced today that it has entered into a definitive agreement with an affiliate of Mayne Pharma Group Limited (ASX: MYX) under which Mayne Pharma will invest $2.5 million in HPPI in a private common stock and warrant financing.  The closing of the financing is expected to occur within five business days. HPPI will use this funding to immediately accelerate its development program, which is focused on the treatment of certain cancers using Mayne Pharma s patented oral formulation of the currently approval anti-fungal drug itraconazole, known as SUBA-Itraconazole, for which HPPI has exclusive U.S. rights in the field of cancer.  In part
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