Mironid Ltd, a Glasgow, Scotland, UK-based drug discovery company, closed its £4.3m ($6.2m) Series A funding round.
The round was led by Epidarex Capital with participation from the Scottish Investment Bank, on behalf of Scottish Enterprise, and the University of Strathclyde.
The company will use the funds to support internal research and preclinical development programmes, focused on degenerative kidney disease, major inflammatory disease and cancer.
Founded by Prof Miles Houslay – who has spent over 30 years investigating the mechanisms of PDE biology as a spin out of the University of Strathclyde in 2015, following initial proof of concept studies, also involving Heriot-Watt University, supported by a £0.5 million grant from Scottish Enterprise, Mironid develops proprietary drug candidate molecules by modulating the activity of key phosphodiesterase 4 (PDE4) enzymes.
The company is led by Dr Paul Rodgers, Executive Chairman.