Ignota Labs reposted this
Big news from Ignota Labs! We are excited to share that we have raised our Seed round. The round was co-led by the amazing teams at Montage Ventures and AIX Ventures, with participation from Modi Ventures, Blue Wire Capital, and Gaingels, along with participation from our existing investor base. It was an fantastic to work with these forward-thinking investors who are onboard with our vision to change the drug development industry. Ignota Labs rescues promising but failing drugs, bringing new life to abandoned projects and new hope to patients. More than half of all clinical trials fail due to safety issues, resulting in a staggering $400 billion annual loss and delaying life-saving treatments for patients. The funding will be used to expand our pipeline by acquiring distressed assets and for advancement into early-stage clinical trials of our first asset, a PDE9A inhibitor. We're actively looking for more drugs to acquire - if you've run into a safety challenge, please get in touch - and investment partners for turned around assets. We're also hiring, so please keep an eye out for roles. #seedfunding #safety #drugturnaround #ignotalabs #aidrugdiscovery #drugdevelopment #startup #seedround