A Florida pharmaceutical firm is hoping to raise millions through stock sales to support its efforts to develop an anti-addiction medication.

The South Florida Business Journal reported July 24 that Catalyst Pharmaceutical Partners has filed for a $40-million initial public stock offering, and will use $7 million of the anticipated proceeded to fund Phase II clinical trials of its drug CPP-109 (vigabatrin) for cocaine addiction later this year. The drug has previously been used to treat epilepsy.

Catalyst was founded four years ago.

Bioworld reported July 24 that vigabatrin is the trade name for gamma-vinyl-GABA, which blocks the pleasurable effects of dopamine-enhancing drugs. Marketed by Sanofi-Aventis, vigabatrin has been sold internationally for decades as a secondary treatment for adult epilepsy.

Catalyst's future plans call for Phase III FDA trails of the drug for cocaine addiction, and clinical trials of CPP-109 for methamphetamine and nicotine addiction.