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Rapamycin Holdings, Inc., a privately- held drug development company based in San Antonio, has closed on a fully subscribed $2.5 million Series A Preferred Stock financing. The company is investing the pro - ceeds primarily in Good Manufacturing Practice manufacturing of its lead product candidate, eRapa-NP2g. The company will also utilize funds to prepare for regulatory filings and associated studies required to gain marketing authorization for the use of eRapa-NP2g to treat various unmet medical needs in the companion animal market. "The Company is actively pursuing regulatory approval for the eRapa compound to address significant diseases in the com - panion animal market for which there are no treatments," says Rapamycin Holdings CEO Randy Goldsmith. "We aspire to offer a solution that will improve the lives of pets and their owners, and offer hope for long-term survival of diseases where currently there is little hope of a positive outcome due to the limited treat - ment options available." "We are thrilled to see this extraordinary level of investor validation and confidence in our technology and prospects," says Rapamycin Holdings Board Chair Steve Dufilho. "Our company was founded in late 2012, and we have made great strides in the development of our pro - prietary technology and our business model. Closing this new preferred stock series provides us with significant capital needed to support this next phase of corporate development." The round was led by a small consortium of San Antonio Angel investors who are committed to funding the company through product approval and launch. CFO Mark Horsey says Rapamycin Holdings has now raised approxi - mately $5 million since the company's inception in October 2012, and has plans for a Series B financing in late 2015 or early 2016. The Series B will be used to complete the regulatory approval process for the prod- uct, obtain marketing authorization from the FDA Center for Veterinary Medicine and begin pre-commercialization activities in preparation for a U.S. launch. Gabriela Mandiuc, CPA, of San Antonio has joined the firm as a Tax Supervisor. Mandiuc began her accounting program at the University of Michigan and earned her bachelor's degree in ac - counting from Franklin University in Columbus, Ohio. Santiago M. Coindreau of San Antonio has joined the firm as a Senior Tax Accountant. Coindreau earned his BBA in accounting and his Master of Accountancy from UTSA. Sol Schwartz & Associates, P.C. is one of the largest independent certified public accounting firms in San Antonio, with a staff of more than 45 professionals. Sol Schwartz & Associates, P.C. is the exclusive San Antonio area member of CPAmerica International, one of the largest associations of CPA firms in the world. Through its affiliation, Sol Schwartz has instant access to the expertise and resources of more than 2,500 CPAs across America and access to more than 140 independent accounting and advisory services firms in more than 100 countries worldwide. ■ AROUND TOWN RAPAMYCIN HOLDINGS, INC. CLOSES $2.5 MILLION SERIES A FINANCING SOL SCHWARTZ & ASSOCIATES, P.C. ADDITIONS Randy Goldsmith 1 4 | San Antonio MD NEWS ■ M D N E W S . CO M