WINSTON-SALEM – Plakous Therapeutics today disclosed that the total funding the the Winston-Salem-headquartered biotherapeutic company has received through North Carolina Biotechnology Center programs in the last few months is $310,000.
Part of that came from the company’s first place finish in the NC BIONEER Venture Challenge, as reported last week by WRAL TechWire.
The company also received additional financial support through that program, the company announced in a statement.
Further, the company disclosed that it had raised $250,000 from a small business research loan of $250,000. According to the statement, the funding was secured “after several months of rigorous due diligence.”
The firm is continuing to raise funding in a $4 million seed round, according to the company’s CEO, Robert Boyce.
W-S biotech firm Plakous Therapeutics wins NC BIONEER Venture Challenge
Boyce also noted in a statement that the funds secured through the North Carolina Biotechnology Center will support the firm in an upcoming investigational new drug filing process for the company’s orally-delivered therapeutic known as Protego-PD™.
“It is exciting and encouraging when research and therapies advance toward commercialization,” said Nancy Johnston, executive director for the Piedmont Triad office of the North Carolina Biotechnology Center, in a statement. “Not only does this attract additional investments, but it also demonstrates the diversity of discovery and solutions underway in the Piedmont Triad.”
In 2020, the company received an NIH grant worth up to $1,725,000 as it sought to develop the firm’s therapy, which targets a rare disease in premature babies, necrotizing enterocolitis.
Winston-Salem’s Plakous Therapeutics lands $1.7M fast-track SBIR grant
