Argolyn draws on $16M for neurological drugs
Argolyn Bioscience, a Charleston, S.C.-based developer of drugs for neurological problems, raised $15.8 million in a first financing round. The funding was led by Intersouth Partners and Quaker BioVentures, joined by Amgen Ventures.
Argolyn is at work on new peptide-based drugs, which are made from short stretches of protein, for schizophrenia and pain. Neither of its lead candidates have yet entered clinical trials, although the company said the new funding will allow it to begin human tests. Peptides are theoretically much more selective than traditional “small molecule” drugs, but usually can’t be administered in pill form because their fragile molecules break down in the digestive system. Argolyn says it can modify peptides to improve their stability, although it so far stops short of saying it can deliver them orally.
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About the Author, David P. Hamilton
David Hamilton has been writing for VentureBeat LifeScience since April 2007. He formerly spent 14 years as a reporter for the Wall Street Journal in its San Francisco and Tokyo bureaus. Prior to that, he spent several years as a reporter at Science Magazine and as a reporter/researcher for the New Republic, both in Washington.