BioLeap Raises $5M in Venture Financing

BioLeap, Inc., a New Hope, PA-based drug discovery company using a computational method to design novel drugs for specific diseases, has raised $5m in venture financing from Adams Capital Management and Quaker BioVentures.
BioLeap will use the funding to drive business development, to support continued development of its computational fragment-based drug design (CFBDD) technology, and to pursue alternative models of early drug discovery.
In the past six months, the company has entered into contracts with GlaxoSmithKline to design lead compounds for difficult drug targets and Lycera Corp. to develop novel small-molecule scaffolds for the treatment of autoimmune diseases.
As part of the agreement, Brenda Gavin, Founding Partner of Quaker BioVentures and William A. Frezza of Adams Capital Management will join the Company’s Board of Directors.

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