Lodo Therapeutics Corporation, a NYC-based company that develops novel therapeutics derived from its metagenomics-based small molecule discovery platform, raised $17m in Series A funding.
Backers included AbbVie, Alexandria Venture Investments, ARCH Venture Partners, Eli Lilly and Company, Harris & Harris Group, Inc., Innovate NY Fund, Johnson & Johnson Innovation – JJDC, Inc., The Partnership Fund for New York City, Pfizer Venture Investments, Watson Fund, WuXi PharmaTech, and Bill & Melinda Gates Foundation.
Co-founded by Sean Brady, Ph.D., head of The Rockefeller University’s Laboratory of Genetically Encoded Small Molecules, and interim chief scientific officer David Pompliano, Ph.D., a scientist with extensive experience in the discovery and early development of anti-infective and oncology drugs within both large pharmaceutical companies and small biotechnology firms, Lodo Therapeutics has entered into a license agreement with The Rockefeller University to practice and expand upon its technology platform and approach to developing therapeutics for unmet medical needs in both the developed and developing world. Now, the foundation, will partner with Lodo Therapeutics to bring these drug candidates toward the initiation of human clinical trials.
Lodo will continue to develop Dr. Brady’s platform, not only for a broad range of infectious diseases like tuberculosis, but also in additional areas including oncology, metabolic disorders and rare diseases.
The company, incubated within biotechnology investment and management company Accelerator, will locate its office and lab headquarters will be located within facilities at the Alexandria Center for Life Science, New York City’s life science park.