Actinobac Biomed Receives Up To $4.4M Investment

Actinobac Biomed Inc., a New Brunswick, N.J.-based biopharmaceutical company developing therapeutics for multiple indications, including blood cancers, autoimmune/inflammatory diseases, and HIV, received an investment of up to $4.4m from Kairos Ventures.

The company will use the funds to continue its research. Led by Scott Kachlany, PhD, Actinobac is developing Leukothera®, a protein therapeutic that is able to seek out and destroy white blood cells that are involved in various diseases. The technology was originally developed at Rutgers, The State University of New Jersey.

Foundation Venture Capital Group (FVCG), Inc., an affiliate of New Jersey Health Foundation (NJHF), made an initial investment in the company to advance its work for the treatment of hematological malignancies (leukemias & lymphomas), autoimmune diseases (rheumatoid arthritis, multiple sclerosis, Crohn’s disease, type 1 diabetes, lupus, and psoriasis), and HIV infection.
In addition to Actinobac, FVCG portfolio companies currently include:
– Affineti Biologics, Inc., advancing research in the development of therapeutic and diagnostic products based on new discoveries in oral biology and dental medicine;
– Celvive, Inc., working to develop technology to treat patients with chronic spinal cord injuries with their own adult stem cells;
– Durin Technologies, working to develop a blood test to diagnose and assess severity of Alzheimer’s, Parkinson’s and other neurodegenerative diseases;
– GeneAssess, Inc., developing the FRY gene as a predictive biomarker for breast and other cancers;
– MentiNova, Inc., working to validate a drug that reduces the side effects of L-Dopa Induced Dyskinesia;
– NovoPedics, Inc., developing an implantable meniscus replacement/regeneration medical device to restore mobility to patients suffering from severe meniscus knee injuries;
– Snowdon Pharmaceuticals, Inc., a drug discovery company focused on several major therapeutic areas and providing computational tools to rapidly identify high-value molecules from their library of vendor-available compounds;
– Visikol, Inc., developing a versatile biological clearing agent that penetrates tissue and renders it transparent without causing structural damage for application in the fields of toxicology, pre-clinical drug development, clinical diagnostics, basic research and plant biology as tissues can be easily visualized in 3 dimensions.

FinSMEs

14/07/2017

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