Akashi Therapeutics Receives $1.5M Funding

Akashi-Logo-180pxAkashi Therapeutics, Inc., a Cambridge, Mass.-based clinical stage biopharmaceutical company, has received a $1.5m funding.

The Muscular Dystrophy Association (MDA) has made an investment through the MDA Venture Philanthropy program along with other 15 non-profit organizations.

The company intends to use the capital to fund clinical development of HT-100 (delayed-release halofuginone), an orally available, small molecule drug candidate intended to reduce fibrosis and inflammation and promote healthy muscle regeneration in boys with DMD.
The current funding is in addition to more than $1m in non-profit support from an earlier fundraising round, for a cumulative total of more than $2.5m raised from 25 patient advocacy organizations (http://www.akashirx.com/financial-supporters).

Led by Chief Medical and Scientific Officer Valerie A. Cwik, M.D. and CEO Marc B. Blaustein, Akashi TherapeuticsĀ is developing a pipeline of therapies with the goal of transforming Duchenne from a 100% fatal, aggressive muscle-wasting disease to a chronic, manageable condition.

FinSMEs

03/07/2014

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