Lactiga Therapeutics, a North Brunswick, NJ- and Toronto, Canada-based biotechnology company, raised USD$1.6m in Pre Seed funding including over $350k in research grants.
The round was led by 1517 Fund. In addition to the capital raised, the company has secured over $350k in nondilutive grants and awards over the last four months, including funds from the New Jersey Commission on Science, Innovation and Technology (CSIT) and Innovation Factory’s Southern Ontario Pharmaceutical and Health Innovation Ecosystem (SOPHIE) program.
The company intends to use the funds to complete its preclinical studies for its two primary development programs, LCTG-001 (for patients with Common Variable Immunodeficiency) and LCTG-002 (for patients with COVID-19 and its variants) and to file its first Investigational New Drug (IND) application with the U.S. Food and Drug Administration with plans to start human clinical trials in 2023.
Led by Rik Mehta, PharmD, JD, LLM, Cofounder, Lactiga Therapeutics is an early-stage biotechnology company focused on improving the quality of life of patients with primary immunodeficiency diseases. The company is advancing antibody programs derived from human milk, for patients with primary immunodeficiencies and COVID-19, based on its patented technologies.