Tranzyme Pharma plots its next financing move

With a Phase III trial scheduled for next year, Research Triangle Park, NC-based Tranzyme Pharma says it is now pondering three key avenues to go forward: partner the drug, raise $60 million from investors or sell the company.

CEO Vipin Garg says that mid-stage data for the lead therapy, TZP-101, are solid. More than 200 patients were enrolled in a study for the drug, which treats severe constipation. The trial results were announced on October 1.

Garg says that he is in talks with six drug companies about a possible partnership or M&A transaction.

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