Osmol Therapeutics Closes First $5.2M Tranche of $7.5M Series A-1 Funding

healthcare

Osmol Therapeutics, a New Haven, Conn.-based biopharmaceutical company focused on developing a treatment to prevent chemotherapy-induced peripheral neuropathy (CIPN), closed the first $5.2m tranche of a $7.5m Series A-1 financing.

The round was led by Koax Investment Partners.

Led by Bob Linke, President and Chief Executive Officer, Osmol Therapeutics is a biopharma company focused on developing a treatment to prevent chemotherapy-induced peripheral neuropathy (CIPN) based on the work of Dr. Barbara Ehrlich. The company’s lead indication will be for the prevention of CIPN related to taxane treatment.

Osmol’s lead drug candidate, OSM-0205, is based on Dr. Barbara Ehrlich’s research in neuronal calcium sensor-1 (NCS1) and was in-licensed from Yale University. OSM-0205 is designed to prevent the off-target calcium surge caused by taxanes and potentially other chemotherapy treatments associated with peripheral nerve damage.

The first tranches of its Series A-1 funding will allow the company to complete the remaining Investigational New Drug (IND) enabling studies for OSM-0205, its lead drug candidate for the treatment of chemotherapy-induced neuropathy and will allow them to file an IND later this year.

FinSMEs

13/04/2022