Auxilius Pharma, a Boston, MA- and New York-based pharmaceutical company, raised $1M in Seed funding.
The round was led by CofounderZone.
Set up in 2019 by founders Uwe Tigör, MD, and Jed Liwiniuk, MHA, and led by CEO Jed Litwiniuk, Auxilius Pharma is a pharmaceutical company that operates in the area of value-added medicines and brings innovation to areas of high unmet need for patients with diseases such as chronic-stable angina pectoris that aim to have a positive impact on public health.
The company intends to use the funds for developing its lead asset, AUX-001, an innovative new medication for treating chronic-stable angina pectoris in the US, a condition affecting 11 million Americans over the age of 20.
AUX-001, a potent, dual mechanism of action, once-daily anti-anginal, features anti-anginal efficacy on par with currently approved anti-anginal medications such as beta-blockers, calcium channel blockers, or long-acting nitrates but also features cardioprotective effects. In its presently available form, it also affects the underlying condition, coronary artery disease, leading to better overall disease outcomes, including reductions in hospitalizations for chronic stable angina patients.
AUX-001 is expected to be granted a 5-year New Chemical Entity (NCE) market exclusivity in the US, where the reference product has never been approved.
FinSMEs
12/06/2023