Basking Biosciences, Inc., a Columbus, Ohio-based biopharmaceutical company developing a next generation treatment for acute ischemic stroke (AIS), held an initial closing of a $5.4M seed financing round.
The investor syndicate included Rev1 Ventures, Broadview Ventures and Viva BioInnovator. In conjunction with the funding, Ryan Helon of Rev1, Thomas Needham of Broadview and Dr. Dan Meyers joined Basking’s Board of Directors.
The company intends to use the funds to continue to expand its development efforts.
Founded in 2019 by Bruce Sullenger, PhD of Duke University and Shahid Nimjee, MD, PhD of The Ohio State University, and led by Richard Shea, Chief Executive Officer, Basking is developing a reversible thrombolytic therapy for acute ischemic stroke (AIS) exploiting the properties of RNA biochemistry to develop aptamers with high affinity and specificity against proteins involved in coagulation and hemostasis. The company’s development candidate, DTRI-031, is an RNA aptamer that inhibits von Willebrand Factor (vWF). Basking is co-developing a matched oligonucleotide reversal agent, DTRI-025, for as-needed, rapid reversal of DTRI-031. The program is expected to enter into human clinical trials in Q2 2021.