GlyGenix Therapeutics Inc., a Woodbridge, CT-based company focused on developing cures for metabolic disorders caused by genetic mutations, raised up to $150k from Connecticut Innovations (CI).
Connecticut Innovations made the investment via its Pre-Seed Fund, which help entrepreneurs launch an early-stage technology company providing funding, mentoring, resources and introductions to connections that can help them turn ideas into commercially viable businesses.
Several individual investors joined CI in the round.
The company will use the funds to continue research and development on its lead drug candidate, AAV-G6Pase, for the treatment of glycogen storage disease type 1a (GSD1a). AAV-G6Pase has received orphan drug designation from the Food and Drug Administration (FDA), which gives the drug exclusivity in the marketplace for seven years following FDA approval of the drug.
GlyGenix is led by Dr. William Fodor, Ph.D. Chief Executive Officer, and David Feldman, DMD. Chief Operating Officer.
FinSMEs
17/03/2014