Monarch Biosciences, Inc., a Los Angeles, CA-based advanced life sciences company, closed its seed round financing of more than $1m.
The round was led by by Checkmate Capital Group. In conjunction with the funding, Checkmate Capital’s CEO, Tom Paschall, will join the MonarchBio Board of Directors.
The company intends to use the funds for the development of its biomaterial-based neurovascular stent and platform for local delivery of cell therapies.
Led by CEO Leon Ekchian, Ph.D., MonarchBio is an advanced life sciences company that is developing a pipeline of products based on its proprietary thin-film nitinol (TFN) biomaterial. Its lead product – the Titan Flow Diverter™ – offers rapid occlusion of cerebral aneurysms compared with current leading neurovascular products in the market. The second product in its pipeline, the Engineered Lymph Node™ (ELN), is a TFN-based device for local delivery of cell therapies treating solid tumors.
The seed funding, which supplemented several million dollars of NIH funding, has been pivotal for the development of MonarchBio’s Titan Flow Diverter. In preparation for first-in-human trials expected later this year, MonarchBio completed preclinical animal and human simulator testing conducted by a team headed by David Kallmes, M.D., Professor of Radiology, at Mayo Clinic’s campus in Rochester, Minnesota.
MonarchBio has thirteen issued U.S. patents in addition to having exclusively licensed a portfolio of patents from UCLA and the Fred Hutchinson Cancer Research Center related to various applications of TFN technology.
Source, FinSMEs, April 8, 2020
Are you a pre-seed to late stage funded Canadian startup that needs to grow or scale? Give us a call! One of our representatives would love to explain how we vertically design, and then systematically layer each of our communication platforms to effectively reach niche target audiences for our clients. WC offers a unique synergistic approach to effectively communicate our client's message to their target audienc.
Serving Vancouver, Montreal, Toronto, Waterloo, Ottawa and Halifax.
This post was brought to you by Woewoda Communications, your partner in the Canadian startup market; offering strategic communications & public relations services to Canadian startups involved in ICT, IoT, blockchain, life sciences, healthcare, agribusiness, clean energy, fintech, AI and robotics.
Are you a pre-seed to late stage funded Canadian startup that needs to grow or scale? Give us a call! One of our representatives would love to explain how we vertically design, and then systematically layer each of our communication platforms to effectively reach niche target audiences for our clients. WC offers a unique synergistic approach to effectively communicate our client's message to their target audienc.
Serving Vancouver, Montreal, Toronto, Waterloo, Ottawa and Halifax.
There is so much in this article that I would never have thought of on my own. Your content gives readers things to think about in an interesting way. Thank you for your clear information. Deals checkmate
ReplyDelete