Peroxitech, a Philadelphia, PA-based biopharmaceutical company, raised $25M in Series A funding.
The round was led by Perceptive Xontogeny Venture Fund.
The company intends to use the funds to build upon the preclinical work conducted through collaborative partnership and seed investment with the Xontogeny development team to advance the lead candidate, PIP-2, through IND-enabling studies and into clinical development.
Led by CEO Thomas Han, Peroxitech is a biopharmaceutical company focused on the development and commercialization of a therapeutic for treatment of acute lung injury. Peroxitech’s lead asset mechanism leverages the discovery of a novel signaling pathway, NOX2, related to the oxidative injury cascade, which has demonstrated broad protection and rescue in several preclinical models. The company’s novel peptide shows it can protect cells from injury and enables injured ones to recover to near normal levels. These product characteristics could provide significant benefits in ALI and may have applications in other diseases. In addition to the first clinical indication, Peroxitech is also evaluating its lead compound for several high unmet need areas where oxidative injury signaling pathways are a major contributor to disease progression.
The company was launched the University of Pennsylvania’s Penn Center for Innovation (PCI) Ventures and was seeded at Xontogeny.
FinSMEs
13/12/2022