Oligomerix, a White Plains, New York-based clinical stage biotechnology company, raised $2.7M in Series B funding.
The backers were not disclosed.
The company intends to use the funds to to accelerate its transition into Phase 1 human clinical development planned for early 3Q 2022 and to conduct early characterization research on its multiple second generation series of assets, which will be focused on disease modification in dementia.
Led by CEO and President James Moe and Chief Medical Officer Bill Erhardt, M.D., Oligomerix is a clinical stage biotechnology company focused on developing disease-modifying therapeutics for neurodegenerative diseases characterized by aberrant tau protein ranging from rare tauopathies such as progressive supranuclear palsy and frontotemporal dementia to Alzheimer’s disease.
Oligomerix’s lead clinical candidate is an oral, small molecule inhibitor of tau self-association that targets the beginning of the tau aggregation cascade, a process thought to be important in the development of Alzheimer’s disease and other neurodegenerative disorders. The lead candidate has demonstrated efficacy in animal models of tau-mediated neurodegeneration. Preclinical safety studies are completed and Phase 1a clinical studies are planned to initiate in the third quarter of 2022.
The company is headquartered at the Westchester Park Center in White Plains, New York and has lab facilities at the Ullmann Research Center for Health Sciences within the Albert Einstein College of Medicine.
FinSMEs
05/06/2022