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With $2M in hand, neonatal startup Tellus Therapeutics plans future raise

Xontogeny backs 3 Philadelphia-area life sciences startups - Philadelphia Business Journal

NC Biotechnology Center awards $1.8M in grants, loans – here's the breakdown

by Barry Teater, NCBiotech Writer May 13, 2021 . RESEARCH TRIANGLE PARK  The North Carolina Biotechnology Center awarded 48 grants and loans totaling nearly $1.8 million to universities, bioscience companies and other entities in the third quarter of its fiscal year. The awards, made in January, February and March, support life sciences research, technology commercialization and entrepreneurship throughout North Carolina. The funding also helps universities and companies attract follow-on funding from other sources. Company loans Three bioscience companies received Small Business Research Loans totaling $550,000 to advance their research, product development and commercial viability. Alacrity Medical Innovations of Chapel Hill received $100,000 to complete prototype development and prepare for an Investigational New Drug (IND) filing with the U.S. Food and Drug Administration for a disposable, drug-device combination product that treats mild to moderate bleeding in patients

Durham startup lands funding, to press ahead with neonatal brain treatment

by Chantal Allam, NCBiotech writer May 13, 2021 . RESEARCH TRIANGLE PARK – Tellus Therapeutics is pushing ahead with developing its neonatal brain injury treatment after landing crucial seed funding this week. The Durham-based biotech company focused on neonatal health announced that it had secured an undisclosed sum from Boston-based Xontogeny to advance its lead TT-20 program. The program targets diffuse white matter injury (DWMI) in preterm infants less than 32 weeks gestational age. Tellus “We are excited to team up with Tellus to support them in pursuing their mission to provide a treatment for every baby born at risk for brain injury and improve neurodevelopmental outcomes for affected children,” said Xontogeny’s founder and CEO Chris Garabedian.

Perceptive Advisors closes $515M fund to fuel more early-stage biotech startups

Perceptive Advisors closes $515M fund to fuel more early-stage biotech startups Perceptive Advisors closes $515M fund to fuel more early-stage biotech startups Perceptive Advisors has $515 million for its second fund investing in biotech startups. Portfolio Manager Chris Garabedian says Perceptive Xontogeny Ventures Fund II is looking to make Series A investments in early-stage companies with assets that can show a path to clinical testing. Shares0   When Chris Garabedian set out early last year to raise money for a second Perceptive Advisors fund focused on early-stage biotech startups, it took just a matter of months to draw interest from investors willing to commit more than $1 billion total. The fund could have closed with that much money, maybe more, said Garabedian, the portfolio manager. But it ended up with a little more than half of that, which he described as “the right size.”