Cage Bio Inc., a San Carlos, Calif.- and Fort Worth, TX-based biotechnology company focused on developing innovative therapies for infection, inflammation and immunology, closed a $7.2m Series A financing.
The round was led by professional and angel investor groups consisting of current and former pharmaceutical executives and physicians.
The company intends to use the funds to strengthen the team, launch consumer healthcare products, and advance their lead therapeutic product for papulopustular rosacea to phase 2.
Led by Nitin Joshi, co-founder and chief executive officer, Cage Bio is a clinical stage company exploiting its proprietary deep eutectic ionic liquid platform to develop novel products for infection, inflammation and immunology.
CAGE Bio’s ionic liquid technology was invented by Professor Samir Mitragotri and his team while he was at the University of California, Santa Barbara. Mitragotri is Hiller professor of Bioengineering and Hansjorg Wyss Professor of Biologically Inspired Engineering at John A. Paulson School of Engineering & Applied Sciences at Harvard University and Wyss Institute.