Doctors estimates of the prevalence of Peyronie’s disease range from less than 1 percent to 23 percent. A recent study in Germany found Peyronie’s disease in 3.2 percent of men between 30 and 80 years of age. Although the disease occurs mostly in middle age, younger and older men can develop it. About 30 percent of men with Peyronie’s disease develop hardened tissue on other parts of the body, such as the hand or foot. A common example is a condition known as Dupuytren’s contracture of the hand. In some cases, Peyronie’s disease runs in families, which suggests that genetic factors might make a man vulnerable to the disease.
Auxilium Pharmaceuticals secured a two-year revolving line of credit for working capital from Silicon Valley Bank. With $30 million committed at initial closing, the financing includes an accordion feature, which could secure the company an additional $10 million on the parties’ mutual agreement.
The new funds come as Auxilium anticipates approval of Xiaflex™, which is under FDA review for the treatment of Dupuytren’s contracture, a condition that affect s the connective tissue that lies beneath the skin in the palm of the hand. The review date has been set for September 19.
Xiaflex is also in Phase IIb development for the treatment of Peyronie’s disease, which manifests as a plaque or hard lump on the penis that can reduce flexibility and cause the penis to bend during erection. Separate Phase II trials with the drug are under way for treating frozen shoulder syndrome.