Actinobac Biomed Inc., a North Brunswick, NJ-based developer of pharmaceutical technologies, raised $100k in seed financing.
Foundation Venture Capital Group (FVCG), an affiliate of New Jersey Health Foundation, made a follow on investment. It had originally invested $500k when Actinobac was established in 2009.
The company intends to use the capital to test its lead product, Leukothera, in the treatment of veterinary white blood cell diseases.
Founded by Dr. Scott Kachlany, Actinobac develops pharmaceutical agents for the treatment of hematologic malignancies (leukemias & lymphomas), latent infections (HIV/AIDS & tuberculosis) and autoimmune diseases (rheumatoid arthritis, multiple sclerosis, Crohn’s disease, type 1 diabetes, Lupus & psoriasis) based upon the natural biologic agent leukotoxin (Leukothera™), which targets Leukocyte Function Antigen-1 (LFA-1) on white blood cells.
The company has exclusive rights to the therapeutic use of Leukothera™ through a license from the University of Medicine and Dentistry of New Jersey (UMDNJ).