Baltimore Maryland-based Arginetix, Inc., a company that develops small molecule inhibitors of the enzyme arginase for the treatment of endothelial dysfunction, including pulmonary arterial hypertension, atherosclerosis and asthma, closed a $10.75m Series A financing.
The financing was co-led by Quaker BioVentures and MedImmune Ventures with the participation from Maryland Health Care Product Development Corp., Osage University Partners, Red Abbey Venture Partners, and company co-founder Acidophil LLC.
Thee proceeds will be used to continue the discovery and development of its first-in-class arginase inhibitors for cardiovascular and pulmonary indications. The company’s scientific foundation is based on licensed intellectual property of its scientific co-founders, David Christianson, Ph.D. at the University of Pennsylvania and Dan Berkowitz, M.D. at The Johns Hopkins University.