Asalyxa Bio, Inc., an Ann Arbor, Mich.-based biopharmaceutical company developing nano-engineered, immune cell-targeted therapeutics, closed a seed financing round totaling more than $2m.
The round was led by Research Bridge Partners, co-led by ID Ventures, and also included Michigan Rise Pre-Seed Fund III, BRCC of Western Michigan University, Ann Arbor Spark, Woodward Angels and other undisclosed investors. As part of the financing, James Graham of Research Bridge Partners has joined the Asalyxa Bio board of directors.
Proceeds from the financing will be used to advance Asalyxa Bio’s lead development candidate, ASX-100, into first-in-human clinical trials.
Led by Marc Appel, president and CEO, Asalyxa Biov is a drug development and platform technology company focused on novel therapeutics to treat major unmet medical needs caused by the dysregulation of immune signaling. With applications across a wide array of disease areas and conditions, The company’s platform technology enables delivery of existing and novel drugs directly into over-reactive immune cells.
Asalyxa Bio’s drug development programs are based on the proprietary PANTHER technology platform, which enables the targeted delivery of therapeutic compounds directly to neutrophils and other key immune cells. Lead program, ASX-100, is a neutrophil-targeted formulation being developed for the resolution of Acute Respiratory Distress Syndrome (ARDS).