A stealthy life sciences startup called Limerick BioPharma has raised $11 million in venture funding and $4.2 million in debt, according to VentureWire. The participants in the round are not clear, but Arch Venture Partners, Sevin Rosen Funds and Altitude Funds are all listed as investors.
Limerick says on its website that it’s working on improving existing therapies through modulating bioavailability — keeping potentially harmful substances out of tissues while maintaining their effectiveness. The technology could allow opioids to work without impairing function. However, the specific drugs the company is working with have not been disclosed.
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