Oligomerix, Inc., a company that develops disease modifying therapeutics for Alzheimer’s disease and related neurodegenerative disorders, has completed approximately $2m in Series A financing.
Backers in the financing, which includes both issuance of new convertible preferred shares and debt conversion, are Wheatley MedTech Partners, L.P., Wheatley New York Partners LP and Durand Venture Associates, LLC.
Founded in 2006 and led by president and CEO James Moe, Ph.D., MBA, and CSO Eliot Davidowitz, Ph.D., Oligomerix is a biopharmaceutical company focused on development of small molecule inhibitors, immunotherapeutic approaches and biomarkers targeting tau oligomers and their newly discovered proteolytic enzymatic activity.
The company is developing a compound-screening assay to identify disease modifying small molecule drugs and antibody-based therapeutics targeting tau oligomers and their proteolytic activity. It intends to use the capital to advance its tau protease inhibitor program, which aims to neutralize tau outside of neurons.
Oligomerix is located within the Audubon Biomedical Science and Technology Park at Columbia University Medical Center.