Navigation Links
BioCrossroads Invests in Indianapolis Biotech Company Developing Treatments for Alzheimer's Disease
Date:5/12/2010

INDIANAPOLIS, May 12 /PRNewswire/ -- BioCrossroads' Indiana Seed Fund, Indiana's only targeted life sciences seed stage investment fund, has invested $300,000 in AgeneBio, an Indianapolis-based biotechnology start-up company focused on the development of therapeutic products for Alzheimer's disease, dementia and other memory disorders. 

More than 5 million Americans suffer from Alzheimer's disease (AD), a number that is expected to grow exponentially over the next decade as a result of the aging population. Currently approved medications for AD treat only the clinical symptoms and have little impact on the progression of the disease. AgeneBio's research platform is based on intellectual property from Johns Hopkins University and has a number of new patents to broaden its approach to developing therapies. 

"AgeneBio's advancements in the treatment of memory-related conditions for the elderly could change the lives of millions of aging Americans and their families," said David Johnson, President and CEO of BioCrossroads. "The company's science is strong and the management team is comprised of seasoned executives from the pharmaceutical industry with highly applicable experience in the development and commercialization of drugs for psychiatric and neurological disorders."

This is the tenth life sciences start up that has received funding from our Indiana Seed Fund.  Our fund has become a critical resource for Indiana's new companies holding great promise for the future of Indiana's economy and encouraging breakthrough innovation from Indiana's outstanding research community," continued Johnson. 

AgeneBio's first therapy is targeted at a very early form of AD called Amnestic Mild Cognitive Impairment (aMCI), a neurological condition that often progresses to Alzheimer's disease and affects more than 3 million aging Americans.  A proof of concept study is underway evaluating AgeneBio's lead therapy in patients with this condition, and its early platform technologies are being explored for a number of neurological conditions. 

"The investment by BioCrossroads will help us advance our research and formulations work so we can accelerate the development of our therapeutic program," said Tim Parshall, CEO of AgeneBio.  "We've been working closely with investors and consultants in Indiana and have been using a global sourcing network to bring our first product to phase II trials.  Indiana's positive entrepreneurial and scientific environment for life sciences companies was a significant factor in our decision to establish our company here."

If  there is a positive outcome from the clinical study, AgeneBio will seek the use of an accelerated approval pathway from the U.S. Food and Drug Administration (FDA)  to bring its first product to market, potentially shortening the normal pharmaceutical development timeline by as much as five years.    

According to DataMonitor,  aMCI-specific annual sales are expected to increase seven-fold from 2007 to $3.3 billion by 2018.   

About BioCrossroads

BioCrossroads (www.biocrossroads.com) is Indiana's initiative to grow, advance and invest in the life sciences, a publicprivate collaboration that supports the region's existing research and corporate strengths while encouraging new business development.  BioCrossroads provides money and support to life sciences businesses, launches new life sciences enterprises (Indiana Health Information Exchange, Fairbanks Institute for Healthy Communities, BioCrossroadsLINX, and Datalys Center), expands collaboration and partnerships among Indiana's life science institutions, promotes science education and markets Indiana's life sciences industry.

About the Indiana Seed Fund I

The $6 million, returndriven Indiana Seed Fund was launched in June 2005 and is managed by BioCrossroads with funding from BioCrossroads, the Indiana Finance Authority and the Indiana Economic Development Corporation.  The Seed Fund provides working capital in the range of $50,000$500,000 to promising Indiana life sciences companies at the preliminary stages of operation.

About AgeneBio

Established in 2009, AgeneBio is headquartered in Indianapolis and is focused on developing therapies to treat AD.  The company currently has a therapy for Amnestic Mild Cognitive Impairment in Phase II clinical trials.


'/>"/>
SOURCE BioCrossroads
Copyright©2010 PR Newswire.
All rights reserved

Related biology technology :

1. BioCrossroads Launches www.biocrossroadslinx.com and Releases Report on Biopharma Discovery and Development Contract Services
2. BioCrossroads Indiana Seed Fund Invests in Vaccine Biotech Company
3. The PLSG Invests $150,000 in Coventina Healthcare Enterprises, Inc., Its Eighth Company Relocation to Pittsburgh
4. The PLSG Invests $115,000 in Innovention Technologies, LLC
5. The Pittsburgh Life Sciences Greenhouse Invests $100,000 in ParentPlus
6. Roche Molecular Diagnostics Invests $57.5 Million in Green Research Building
7. Powersafe Technology Corp. Recapitalizes, Executes Merger Agreement with Amplification Technologies, and Invests in Amplification
8. JIC Invests in Three New Alternative Energy Projects
9. JumpStart Invests in Tursiop Technologies
10. Abbott Invests Additional $20M in Isis Subsidiary Ibis Biosciences
11. Lumidigm Signs Strategic Agreement with Methode Electronics : Automotive Supplier Invests in Biometric Component Development
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:12/5/2016)... 5, 2016  Eisai Inc. announced today final ... of rufinamide, which were presented at the 2016 ... held from December 2-6 in Houston, ... tolerability and cognitive data showed that patients who ... and tolerability profiles, cognitive development and behavior, compared ...
(Date:12/5/2016)... 2016 The U.S. Biotechnology industry ... billion of revenue and some $890 billion of total ... global biopharmaceuticals, and this figure is expected to exceed ... up these four equities for assessment: Northwest Biotherapeutics Inc. ... ACAD ), Acorda Therapeutics Inc. (NASDAQ: ...
(Date:12/4/2016)... (PRWEB) , ... December 03, 2016 , ... ... ground-breaking microbiome studies. A microbiome impact grant award has been made to Dr. ... of heavy smoking and drinking on the oral microbiome. Grant proposals have been ...
(Date:12/4/2016)... CAMBRIDGE, Mass. and CAPE ... SystemOne, a company focused on connecting ... the developing world, and Daktari Diagnostics, a company ... its portable and ultrasensitive immunoassay-based CarePlatform™, today announced ... license agreement to integrate Daktari,s technology platform with ...
Breaking Biology Technology:
(Date:11/28/2016)... 28, 2016 "The biometric ... 16.79%" The biometric system market is in the ... the near future. The biometric system market is expected ... at a CAGR of 16.79% between 2016 and 2022. ... biometric technology in smartphones, rising use of biometric technology ...
(Date:11/19/2016)... Securus Technologies, a leading provider of civil ... corrections and monitoring, announced today that it has offered ... an independent technology judge determine who has the largest ... telephone calling platform, and the best customer service. ... of what we do – which clearly is not ...
(Date:11/15/2016)... Research and Markets has announced the addition of the ... their offering. ... The global bioinformatics market ... 6.21 Billion in 2016, growing at a CAGR of 21.1% during ... is driven by the growing demand for nucleic acid and protein ...
Breaking Biology News(10 mins):