Focal Point Pharmaceuticals, Inc. completed its $150,000 equity offering which started this month. The non-brokered private placement was subscribed by two investors. This is the first known offering initiated by the company on the US private placement market.
As Focal Point is in stealth mode, it is unclear what its line of business will exactly be though it seems to be related to pharmaceutical compound commercialization. Focal Point is tightly linked to a company called Hapten Sciences where Ray Hage and Gary Prosterman are currently CEO and Chairman. Both companies share the same address. Hapten Sciences has licensed a compound developed by ElSohly Laboratories Inc. and University of Mississippi pharmaceutical researchers to prevent reactions to poison ivy, oak and sumac.
The company, headquartered in Memphis TN, is led by Raymond “Ray” J. Hage Jr.(President) and Gary Prosterman (Chairman).
Status: Completed/Final close
Company: Focal Point Pharmaceuticals, Inc.
Amount offered: $150,000
Amount placed: $150,000