Turn Therapeutics, a pioneering biotechnology company, has initiated its inaugural public investment campaign aimed at financing clinical trials for its FDA-approved antimicrobial ointment. The ointment, originally designed to treat wounds, shows promise for treating two additional conditions: moderate to severe eczema and toenail fungus, also known as onychomycosis.
Unlike conventional investment avenues limited to institutional or accredited investors, Turn Therapeutics is leveraging Regulation Crowdfunding to open investment opportunities to the public. This move democratizes investment access, allowing anyone to participate in the company’s growth.
Bradley Burnam, the founder and CEO of Turn Therapeutics, underscored the potential of their flagship formula, Hexagen, stating, “Independent studies have shown that this already well-known formula has potential in other high-need indications.” Burnam’s personal experience with chronic infection led to the development of Hexagen, which has already benefited over 200,000 patients. He expressed enthusiasm about the opportunity to extend its benefits to millions more.
Eczema and toenail fungus present significant unmet medical needs, affecting a substantial portion of the global population. Current treatment options for these conditions are either costly or carry risks, such as steroid use. Topical treatments for toenail fungus often yield low efficacy rates, further highlighting the demand for effective alternatives.
Hexagen, already FDA-cleared for managing eczema symptoms, has demonstrated potential in addressing the underlying causes of eczema and clearing toenail fungus in preliminary studies. Leveraging its extensive safety database amassed from over 200,000 uses in wound care, Turn Therapeutics aims to conduct clinical trials to obtain formal safety and efficacy data required for FDA approval for these new indications.
Burnam emphasized the company’s commitment to inclusivity and patient-centric innovation, stating, “We made a conscious choice to invite the public to invest earlier in these drug programs.” He highlighted Turn Therapeutics’ agility and dedication to providing safe, effective, and affordable medicines to a broader audience.
The funds raised from this public investment campaign will fuel Turn Therapeutics’ clinical trial initiatives, advancing its mission to deliver innovative treatments to those in need. Burnam expressed confidence that involving potential beneficiaries in the investment process aligns with the company’s ethos of doing good while achieving commercial success.
