//, California/UC Berkeley Gastrointestinal Gene Therapy Biotech DNAlite Therapeutics Raises $1.5M in Seed Funding

UC Berkeley Gastrointestinal Gene Therapy Biotech DNAlite Therapeutics Raises $1.5M in Seed Funding

DNAlite Therapeutics, Inc., an early stage preclinical therapeutic company has raised $1.5 million in a seed-stage financing. DNAlite was founded by UC Berkeley graduates Mubhij Ahmad and Timothy Day in 2016. The proceeds of the round will be used to continue development of gastrointestinal tract gene therapy treatments for patients who suffer from genetic intestinal diseases, utilizing DNAlite’s proprietary delivery platform technology.

Berkeley-based Berkeley Catalyst Fund led the Seed round. University of California Berkeley, Blue Bear Ventures, SOSV, and the Baldota family also participated, alongside Chinese biopharma BrightGene and Silicon Valley-based SVE Capital.

Co-founder Mubhij Ahmad remarked, “We are very excited to receive this investment to help DNAlite push forward its technology. We look forward to continuing to work closely with our investors and partners to move new treatments further through our pipeline. We are pleased to bring on board Xixi Zhu with her scientific background and experience in operations, cross border fundraising and business development and Dr. Cassandra Callmann with her expertise in nanoparticle drug delivery.”

Co-founder Dr. Timothy Day remarked, “DNAlite is focused on treating the underlying cause of specific diseases in the gastrointestinal tract. With this investment, we will be able to advance our treatment strategy that helps to address the need of patient populations with limited therapeutic options.”

 

Source: Gastrointestinal Gene Therapy Biotech DNAlite Therapeutics Raises $1.5M in Seed Funding – Odessa American: Business

By | 2018-08-08T11:31:32+00:00 August 8th, 2018|Accelerator/incubator, California|0 Comments

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