Axerion Therapeutics Inc., a New Haven, Connecticut-based biotechnology company that is developing innovative approaches to the treatment of neurological injuries and diseases, recently received a $400,000 follow-on investment from Connecticut Innovations‘ Eli Whitney Fund.
Axerion will use the funds to continue to develop treatments in spinal cord injury and Alzheimer’s disease.
Co-founded in 2009 by Scheer & Company, president and CEO Sylvia McBrinn and Yale University, the company develops and commercializes intellectual property licensed from Dr. Stephen Strittmatter’s laboratory at Yale University. Its proprietary technology platforms include blockers of a-beta oligomer binding to prion proteins (PrP) on the cell surface of neurons as a novel therapeutic target for Alzheimer’s disease and Nogo decoy receptor protein for recovery of neurological function in spinal cord injury and other neurological diseases.
Connecticut Innovations previously invested $600k in Axerion and managing director David Wurzer, CI represents the firm on Axerion’s board of directors.