Zylö Therapeutics Inc., a Greenville, SC-based company developing a topical delivery platform, closed its $4m Series A financing.
Approximately $1.35m of this total was invested prior to this year and was converted into Series A shares as part of this financing. The remaining $2.65m was newly invested capital, led by VentureSouth with investments totaling more than $1m. Additional backers included the New York Angels, Ariel Southeast Angel Partners (ASAP) out of Savannah, the Boston Harbor Angels, the Chemical Angel Network, SC Launch, insiders and their affiliates/associates.
The company intends to use the funds to further scale up the manufacturing process of its Z-pod™ delivery particles and for general working-capital and business-development purposes.
Led by Scott Pancoast, CEO and Founder, Zylö has developed an innovative topical delivery system that extends the duration-of-effect, improves the solubility/targeting, and/or enhances the product performance of many therapeutic agents. Notably, the Z-pod™ technology platform has enabled the Patchless Patch™ concept and has harnessed the therapeutic potential of nitric oxide, short-lived—biomolecules produced by bodies.