Oligomerix Lands $2,000,000 Series A Round
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Feed Type
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Link
http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=7a4b1a72-41ba-4af7-a7c1-9b493f4c658f&Preview=1 -
Date
4/24/2012 -
Company Name
Oligomerix -
Mailing Address
3960 Broadway New York, NY 10032 -
Company Description
OLIGOMERIX Inc., is a biopharmaceutical company focused on developing novel drug discovery targets and therapeutics for Alzheimer’s disease and other neurodegenerative disorders. Founded in 2006, OLIGOMERIX has filed patents on tau protein oligomers (soluble aggregates) for drug and biomarker discovery. Soluble tau has been shown to cause neuronal loss and memory impairment. Compounds inhibiting the formation of tau oligomers or disrupting tau oligomers should inhibit neurodegenerative diseases. Antibodies against tau oligomers are being developed for drug discovery, for use in biomarker assays used to demonstrate drug efficacy, and to stage disease progression. -
Website
http://www.oligomerix.com -
Transaction Type
Venture Equity -
Transaction Amount
$2,000,000 -
Transaction Round
Series A -
Proceeds Purposes
Proceeds from the financing will be used to advance Oligomerix’s tau protease inhibitor program, which aims to neutralize tau outside of neurons, offering a more feasible approach to drug discovery than targeting intraneuronal tau oligomer formation. -
M&A Terms
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Venture Investor
Wheatley Partners -
Venture Investor
Durand Venture Associates -
Venture Investor
Undisclosed
