Contraline Closes $10.7 Million Series A Financing to Become a Clinical Stage Company | Business Wire

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CHARLOTTESVILLE, Va.–(BUSINESS WIRE)–Contraline, Inc., a venture-backed medical device company devoted to providing men and couples with long-lasting, safe, and effective male contraception, has closed $10.7 million in its Series A financing. The financing round was led by MBX Capital, a venture capital firm that invests in early-stage healthcare and life sciences companies. Additional investors in Contraline include: Rhia Ventures, ShangBay Capital, Founders Fund, Metaplanet Holdings, Graphene Ventures, Smith Ventures, Jaffray Woodriff, and Jason Calacanis.
“I believe that Contraline’s product ADAM could be a game changer for men who want more control over their fertility as well as couples who struggle with their reliance on female contraception.”
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This infusion of capital will support the initiation of a first-in-human trial of ADAM™, the world’s first hydrogel implant designed to provide long-lasting, non-permanent contraception for men. The ADAM hydrogel is injected into the vas deferens through a quick and minimally invasive outpatient procedure, where it’s designed to block the flow of sperm. Contraline has received ethics approval from the Human Research Ethics Committee based in Melbourne, Australia to conduct the study. The clinical trial will be conducted by renown urologists at two hospitals in Melbourne. This trial on ADAM is believed…

D&D Pharmatech Raises $51M in Series C Financing to Advance Phase 2 Clinical Trials for Neurodegenerative, Fibrotic, and Metabolic Diseases

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GAITHERSBURG, Md.–(BUSINESS WIRE)–D&D Pharmatech Inc., a clinical-stage biotechnology company focused on development and commercialization of revolutionary medicines, and parent company of U.S.-based Neuraly Inc., Precision Molecular, Inc., Theraly Fibrosis Inc., P4Microbiome and Valted Seq, today announced that it has completed a $51 million Series C round of financing led by Praxis Capital Partners, a private equity firm that focuses on growth acquisitions and investments in Asia; other investors included DS Asset Management, Kudos Ventures and Korea Investment & Securities. The new round of financing builds upon the $137.1 million the company secured in Series B financing in August 2019. The company is planning an initial public offering in Korea in 2022.
“We have been very impressed with the founders and team leaders of D&D and their subsidiaries, as well as their world-class drug development capabilities and ongoing clinical trials”
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“We are grateful for the ongoing support and confidence of our investors and excited to have had Praxis Capital lead this Series C financing,” said Yoo-Seok Hong, Chief Executive Officer of D&D Pharmatech. “We look forward to the ongoing advancement of our clinical candidates in a diverse range of diseases with significant unmet need and the expansion of our…

The Verte Fund Invests in the MDC Studio

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The Verte Opportunity Zone Fund, Inc (of College Park, MD) has made an investment in the MDC Studio-Baltimore. The Studio was recently formed by the MDC Partnership as a platform for expansion and investment. The Studio houses all of MDC’s current companies.

These Seed and Early-Stage Investment Funds in Maryland Are Fueling Life Science Startups

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Perhaps the single biggest challenge faced by startup entrepreneurs and early-stage life science companies is securing the necessary funding to fuel innovation and growth. The BioHealth Capital Region (BHCR) life science community as a whole faces a similar challenge when it comes to access to venture capital funding; this challenge has been noted by many BHCR thought leaders and well-documented in a host of BioBuzz stories.

BioHealth Capital Fund Created to Help Emerging Companies Close Early Stage Capital Gap

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BioHealth Innovation (BHI) was created in 2012 by Rich Bendis and key industry leaders to accelerate the commercialization of high potential scientist entrepreneurs and companies within the BioHealth Capital Region (BHCR), which consists of Maryland, Virginia and Washington, D.C.

Emergent BioSolutions to Invest $75 Million in Canton Site and Expand Viral Vector and Gene Therapy Capability

Emergent BioSolutions to Invest $75 Million in Canton Site and Expand Viral Vector and Gene Therapy Capability
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Emergent BioSolutions to Invest $75 Million in Canton Site and Expand Viral Vector and Gene Therapy Capability June 18, 2020 Company acquires property adjacent to its Canton, Massachusetts live viral [….]