Drug reformulation firm iCeutica raises $2.6M

Drug reformulation company iCeutica has raised nearly $2.6 million, according to a Securities and Exchange Commission filing.

iCeutica uses its “SoluMatrix” technology to reformulate drugs for pharmaceutical clients. Companies typically reformulate drugs in order to protect patents that are in danger of expiring or to introduce a new delivery method, such as administering the drugs via a dermal patch instead of a pill, for example.

The company appears to have once had a fully functioning website, but it’s been taken down and replaced with a static page featuring only iCeutica’s logo. Chief Scientific Officer Bill Bosch didn’t immediately return a call.

In 2009, iCeutica released a terse statement saying that it had signed its first “Big Pharma” client, though it didn’t identify the company.

In 2005, the company announced that it had landed a Series A round of financing, but didn’t say how much. The round was led by Philadelphia-based Phoenix IP Ventures. Phoenix and iCeutica list the same U.S. addresses. iCeutica appears to also have operations in Perth, Australia.

iCeutica’s latest funding was sourced from 89 investors, with the first sale occurring on June 18, according to the regulatory document.