Pittsburgh’s Thar Pharmaceuticals raises $1.2M

PITTSBURGH, Pennsylvania — Thar Pharmaceuticals Inc. has raised $1.2 million in debt financing to commercialize drugs based on supercritical fluid technologies, according to a regulatory filing.

Supercritical fluids have no surface tension and are created by combining high temperatures and pressure to bring a substance to its critical point — the point at which the boundary between fluid and gas disappears. Supercritical carbon dioxide can be used as a means of drug delivery.

Thar Pharmaceuticals is a unit of Thar Technologies, which was founded in 1990 by Dr. Lalit Chordia, according to the latter company’s Web site. Thar Pharmaceuticals seeks to develop new forms of existing drugs with improved efficacy, absorption, safety or toxicity.

The company is looking to raise $1.5 million and has thus far brought in $1.24 million of that amount, according to the filing. Brian Moyer, Thar’s director of corporate development, didn’t immediately return a call.