Weekly Quick Hits (BioHealth Capital Region) – Week of March 27, 2023 By Sarah Ellinwood, Alex Keown, and Mark TerryMarch 31, 2023 Funding, Awards and Collaborations 10Pearls Acquires Consulting Firm [….]
HGS alumni recently gathered to celebrate the 10th anniversary of the GSK acquisition at an alumni reunion event sponsored by Kymanox and BioIT Solutions, two renowned companies founded by HGS Alumni. The event brought together 140 alumni, including a veritable “who’s, who” of BHCR entrepreneurs, founders and key thought leaders that once called HGS home and then went on to new heights.
Neuraly, a clinical stage biotechnology company pioneering disease-modifying agents for neurodegenerative disorders, today announced the completion of patient enrollment in its Phase 2 study of NLY01 for Parkinson’s disease (PD). NLY01, Neuraly’s lead development asset, is a glucagon-like peptide 1 receptor (GLP-1R) agonist that has been demonstrated to inhibit pathological activation of microglia by binding upregulated GLP-1R in animal models of neurodegenerative diseases such as PD. In doing so, NLY01 has demonstrated the ability to inhibit neuroinflammation and prevent neuronal cell death, offering a potentially first-of-its-kind, disease-modifying therapy capable of slowing the progression of PD.
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…
D&D Pharmatech Announces Agreement with Salubris Pharmaceuticals for Licensing and Development of DD01 in China
D&D will receive an upfront payment of $4 million and is eligible to receive additional undisclosed milestone payments upon achievement of certain development and commercial milestones
DD01 is a GLP-1R/GCGR dual agonist in development for the treatment of obesity, NASH and diabetes
September 27, 2021 07:00 AM Eastern Daylight Time
GYEONGGI-DO, South Korea & GAITHERSBURG, Md.–(BUSINESS WIRE)–D&D Pharmatech, Inc. (D&D), a clinical-stage biotechnology company focused on development and commercialization of revolutionary medicines, today announced that Shenzhen Salubris Pharmaceuticals has acquired the rights to develop and commercialize DD01 in mainland China. DD01 is a glucagon-like peptide-1 receptor / glucagon receptor (GLP-1R/GCGR) dual agonist for the treatment of obesity, nonalcoholic steatohepatitis (NASH) and diabetes. D&D will retain all rights for the rest of the world.
Supporting international expansions for businesses and strengthening economic development ties are both part of a new Memorandum of Understanding, signed by the state of Maryland and the Republic of Korea.
Today, we are excited to announce the winners of our inaugural BioBuzz Awards. The BioBuzz Awards are a celebration of the exciting and groundbreaking work being done by the BioHealth Capital Region (BHCR) life science community and the individuals that make innovation happen across Maryland, Virginia, and Washington, D.C.
The Pinkney Innovation Complex for Science and Technology at Montgomery College (PIC MC) Combines Innovation and Education – a smart choice for co-location.
This year, more than ever before, we’ve seen just how important it is for us all to stay connected and work together to build a stronger biotech ecosystem. In the face of great adversity, the biotech community has risen to the challenge and formed new collaborations and partnerships to innovate and rapidly develop new medicines and tools to help us beat this pandemic.
Maryland is the epicenter of biotech and life science innovation in the BioHealth Capital Region (BHCR). The state is home to a burgeoning life science ecosystem, including a rapidly growing cell and gene therapy industry, a robust and growing advanced biomanufacturing environment, and a deep network of leading research universities and critical government life science research entities.
