Biotech startup Inflazome has raised $63 million in funding to test and commercialise its molecules for slowing the progress of inflammatory diseases such as Alzheimer’s and Parkinson’s.
Born out of research from the University of Queensland and Trinity College Dublin, the startup was founded in 2016 with initial funding from Novartis Venture Fund.
The IP is licensed by the university’s commercialisation company UniQuest.
This funding round was led by life sciences venture capital firm Forbian, and also included investment from Longitude Capital, and repeat investment from Novartis and Fountain Healthcare Partners.
Inflazome has developed a strand of molecule that inhibits the NLRP3 inflammasome, which is linked to inflammatory diseases such as Parkinson’s, Alzheimer’s and osteoarthritis, as well as gout, bowel disease and various kidney, liver and cardiovascular diseases.
Matt Cooper, a professor at the University of Queensland’s Institute for Molecular Bioscience, and chief executive of Inflazome, tells StartupSmart this research was particularly ripe for commercialisation because “the medical unmet need was high and sustained”.
The product also has a strong IP position, he says, with a first-mover advantage, while a combination of other scientific advances in the space validated some of the underlying science behind the Inflazome product. Read more
Stephanie Palmer-Derrien – SmartCompny – 4 December 2018