Accuitis, Inc., a Cumming, GA-based pre-clinical-stage biopharmaceutical company, closed a $1m financing round.
The round was led by Bio/Med Investor Network, with The Georgia Research Alliance, through its GRA Ventures program, granting a Phase IIIA loan. In conjunction with the funding, Geoff Meacham, PhD, managing director and senior research analyst covering the biopharmaceutical industry at Barclays, joined Accuitis’ Board of Directors.
A startup out of the Emory Univerity tech transfer office, the company intends to use the funds for continue development of its topical proteasome inhibitor (ACU-D1) for the treatment of Rosacea into Phase 1-2 clinical trials in 2016.
Led by President and CEO, Rick Coulon, Accuitis develops drug therapies to treat chronic diseases of the skin and eye. Its lead product is a topical proteasome inhibitor discovered at Emory University and is focused on treating Rosacea a dermato-ophthalmic condition which effects over 43 million people in the US and Western Europe, and other inflammatory skin diseases.