Just when the industry may be wondering what is going on in the field of biotechnology and research, news of another startup raising substantive funds comes through. Enterin announced that it recently raised $12.7 million in a Series A funding round. The company saw new investors like New Ventures III along with their existing investors.
Speaking after the fundraiser, Michael Zasloff, founder, chairman and CEO of Enterin said they are elated to have New Ventures III supporting them. He further added that the quality of investors, clearly substantiates the potential of their technology platform that will transform the course of PD and other neurodegenerative diseases.
Zasloff also indicated that the money raised would be utilized to complete Phase 2 of their research in PD. They will also try to understand the role of alpha-synuclein (aS) in the pathology of PD and search for additional indicators.
Enterin revealed that their Board of Directors will have a new member in founding partner at New Ventures III, Mark Finn.
This announcement is in line with the recently initiated Phase1/2a clinical trial, sponsored by Enterin Inc., where scientists are targeting the accumulation of alpha-synuclein in the enteric nervous system. Even though the research is primarily around functional improvement of the enteric nervous system, the company is closely monitoring symptoms of central nervous system, like sleep, REM behaviour disorder, depression, and fatigue. This fact was reiterated by Denise Babut, Co-Founder and President of Enterin, who is also the Chief Medical Officer in the company.
Anirudh M. for TechFunnel.com