Original Press Release, Yahoo Finance, September 21, 2022
NORTH BRUNSWICK, N.J., Sept. 21, 2022 — Lactiga Therapeutics, an early-stage biotechnology company focused on improving the quality of life of patients with primary immunodeficiency diseases, announced this week that it has oversubscribed its pre-seed financing, raising $1.6 million in new capital including over $350,000 in research grants. The lead investor in the financing was 1517 Fund, and other investors include several private firms with significant biotechnology experience.
“We are pleased to support Lactiga’s collaborative project with McMaster University during an important phase of their commercialization journey – leading to new intellectual property, jobs, follow-on investment and pharmaceutical development. Through SOPHIE, (a program supported through the Federal Economic Development Agency for Southern Ontario) Lactiga will also have access to an extensive strategic health innovation ecosystem, further enabling their market potential for success,” said David Carter, Executive Director at Innovation Factory.
Lactiga is advancing its novel antibody programs derived from human milk, for patients with primary immunodeficiencies and COVID-19, based on its patented technologies. The company has demonstrated positive topline nonclinical efficacy results. For inquiries, please reach out to [email protected]
About 1517 Fund
Founded in 2015, 1517 Fund is a venture capital firm headquartered in Telluride, Colorado founded by the cofounders of the Thiel Fellowship. 1517 leads angel, pre-seed, and seed investments for scientists working on the edge of knowledge, as well as dropouts and renegade students.
In August 2018, Governor Murphy signed legislation re-establishing the former New Jersey Commission on Science and Technology as the CSIT. Comprised of representatives from the public and private sectors, as well as academia, the Commission is tasked with leading the way in promoting the State as a home for academic and technological research, development, and commercialization.
Southern Ontario Pharmaceutical & Health Innovation Ecosystem (SOPHIE) Program brings together Innovation Factory’s commercialization services with the Synapse Life Science Consortium’s strategic network to leverage access to Hamilton’s unique life sciences capabilities and research expertise. SOPHIE Funding will support collaborative projects for Ontario-based life science firms in the later stages of commercialization and in need of financing to secure technology validation and first sale.
Contact : Viraj Mane [email protected]