Cadrenal drug moving closer to FDA approval

“We have a strong plan to complete the trial as well as commercialize the product,” said Quang Pham, CEO of the Ponte Vedra-based company.

  • By Mark Basch
  • | 12:00 a.m. June 20, 2024
  • | 4 Free Articles Remaining!
  • Columnists
  • Basch Report
  • Share

Cadrenal Therapeutics Inc. is closing in on seeking U.S. Food and Drug Administration approval for its anticoagulant drug called tecarfarin, needing to complete one Phase III trial for the drug.

“We have a strong plan to complete the trial as well as commercialize the product,” CEO Quang Pham said in a June 12 streaming presentation to the Emerging Growth Conference.


Ponte Vedra-based Cadrenal, which went public in 2023, has no products on the market but has been developing tecarfarin as an alternative to other anticoagulants for patients with certain conditions.

“It is estimated that tecarfarin could address a market size of about $2 billion just in the United States alone,” Pham said.

“We believe Cadrenal, with tecarfarin, represents an underappreciated investment opportunity. We have the data that validates tecarfarin is safe, is efficacious and is one trial away from NDA (New Drug Application) submission,” he said.

Trailer Bridge launches European division

Jacksonville-based Trailer Bridge Inc., a marine freight company that focused on shipping services to Puerto Rico and the Dominican Republic, announced the launch of a European division June 13.

Trailer Bridge Europe will be headquartered in Frankfurt, Germany, and provide supply chain solutions for commercial and government shippers, the company said.

“Our growth throughout the past decade has been fueled by the needs of our customers and this expansion is no different,” Trailer Bridge CEO Mitch Luciano said in a news release.

“The launch of TBE is the natural evolution of our business as we have taken on new opportunities with shippers based in that region and landed key contracts with the U.S. military for global services.”

Trailer Bridge was a publicly traded company before a 2011 Chapter 11 bankruptcy filing.

It emerged from bankruptcy in 2012 under the control of Fort Lauderdale-based Seacor Holdings Inc.

Seacor was acquired by a private equity firm in 2021.

Fortegra expands European operations

The Fortegra Group Inc. said June 11 it is expanding its European operations with the approval of a Belgian subsidiary.

The Jacksonville-based company said Fortegra Belgium Insurance Co. will underwrite specialty lines of business in Belgium and the European Union.

Its Fortegra Europe Insurance Co. will continue to focus on warranty products.

Fortegra, a subsidiary of Tiptree Inc., has been operating in Europe since 2018



Special Offer: $5 for 2 Months!

Your free article limit has been reached this month.
Subscribe now for unlimited digital access to our award-winning business news.