AgeneBio, an Indianapolis-based biotechnology start-up company focused on the development of therapeutic products for Alzheimer’s disease (AD), dementia and other memory disorders, has raised $300,000 from BioCrossroads’ Indiana Seed Fund.
Established in 2009, the company currently has a therapy for Amnestic Mild Cognitive Impairment, a neurological condition that often progresses to Alzheimer’s disease and affects more than 3 million aging Americans, in Phase II clinical trials.
A proof of concept study is underway evaluating AgeneBio’s lead therapy in patients with this condition, and its early platform technologies are being explored for a number of neurological conditions.
The investment will help the company advance its research and formulations work so it can accelerate the development of its therapeutic program.
If there is a positive outcome from the clinical study, AgeneBio will seek the use of an accelerated approval pathway from the U.S. Food and Drug Administration (FDA) to bring its first product to market, potentially shortening the normal pharmaceutical development timeline by as much as five years.
This is the tenth life sciences start up that has received funding from the Indiana Seed Fund.
FinSMEs
12/05/2010