Inspire was incorporated in October 1993 and began operations in March 1995. We completed an Initial Public Offering of common stock in August 2000 and follow-on common stock offerings in March 2003, July 2004, and November 2004. In July 2007, we entered into a securities purchase agreement for the sale of exchangeable preferred stock to Warburg Pincus.

Our common stock is traded on the Nasdaq Global Market under the ticker symbol "ISPH." Inspire is located in Durham, North Carolina, adjacent to Research Triangle Park.

Our original technology was licensed from the University of North Carolina (UNC). Research conducted by UNC's group at the Cystic Fibrosis Research Center led to the discovery that UTP is capable of increasing airway surface hydration and improving mucociliary clearance. At that time, P2Y receptors and their biological activity were just beginning to be understood. Inspire scientists, working with UNC researchers, immersed themselves in this emerging field, and were soon recognized as leaders in the discovery and synthesis of nucleotides that activate the P2Y2 receptor. Inspire scientists made and patented many discoveries relating to P2Y2 receptors, their agonists and their potential importance in the treatment of diseases involving deficiencies in the body's natural mechanisms for protecting mucosal surfaces such as the lungs, eyes and sinuses.

Inspire has discovered and/or developed product candidates for treating dry eye, cystic fibrosis, glaucoma and allergic rhinitis. In late 2003, Inspire built a specialized sales force of 64 representatives dedicated to co-promoting Elestat® and Restasis® to ophthalmologists, optometrists and allergists. Inspire's sales force has since grown to 98 representatives who additionally call on high-prescribing pediatricians and primary care physicians for AzaSite®.

 

 

Page last updated: 18-Feb-2008

Copyright © 1999-2005 Inspire Pharmaceuticals Inc. All rights reserved


 

 

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