Navigation Links
Foundation Venture Capital Group Commits Second Round of Funding to Actinobac Biomed
Date:2/21/2013

NEW BRUNSWICK, N.J., Feb. 21, 2013 /PRNewswire-USNewswire/ -- Actinobac Biomed, Inc., has received a commitment for a second investment of $100,000 from Foundation Venture Capital Group (FVCG) to  study the efficacy of the company's lead product, Leukothera®, in  the treatment of  veterinary white blood cell diseases , announced Dr. George F. Heinrich , vice chair and CEO of FVCG.

FVCG had originally invested $500,000 when Actinobac was first established in 2009 to develop pharmaceutical agents for the treatment of hematologic malignancies (leukemias & lymphomas), latent infections (HIV/AIDS & tuberculosis) and autoimmune diseases (rheumatoid arthritis, multiple sclerosis, Crohn's disease, type 1 diabetes, Lupus & psoriasis).

Leukothera® is a bacterial toxin that specifically targets and depletes disease related white blood cells (WBC). In laboratory studies to date, malignant and proinflammatory white blood cells have been determined to be more sensitive to Leukothera® than normal white blood cells. Animal studies carried out by Actinobac have shown Leukothera™ to possess significant therapeutic activity.

"We are contracting with Texas A&M Veterinary School to examine the use of Leukothera® for dogs suffering with white blood cell diseases," explained company founder Dr. Scott Kachlany.  "Because of biological similarities, the data we obtain from these new studies will be applicable to dogs and support drug development for human applications also."

The latest $100,000 investment will fund proof of concept studies. According to Dr. Kachlany, early results indicate that Actinobac's drug candidate works very well in healthy dogs, using lower doses than previously expected.

"We are excited about Dr. Kachlany's results to date," explained James M. Golubieski , president of Foundation Venture Capital Group, "and are hopeful that Actinobac's work will provide a viable treatment in the not too distant future to increase survival rates for these white blood cell diseases."

Dr. Kachlany, also an associate professor of oral biology, microbiology and molecular genetics at UMDNJ-New Jersey Dental School, discovered the potential therapeutic uses of Leukothera®  during the course of his research at the dental school.

"Our goal is to demonstrate that Leukothera® prolongs life and treats disease, in dogs and in humans," he explained.

For more information contact James M. Golubieski , president of Foundation Venture Capital Group, at jgolubieski@njhf.org  or visit www.actinobac.com and  www.foundationventure.com.

About Foundation Venture Capital Group

Foundation Venture Capital Group, an affiliate of New Jersey Health Foundation, invests in commercially viable new start-up companies developing technology by faculty at or affiliated with the University of Medicine and Dentistry of New Jersey.  In addition to Actinobac, FVCG portfolio companies currently include: 

  • Affineti Biologics, Inc.,  advancing research in the development of therapeutic and diagnostic products based on new discoveries in oral biology and dental medicine;
  • CellXplore, Inc., engaged in the development of biomarker-based in vitro diagnostic assays for cancer;
  • Celvive, Inc., working to develop technology to treat patients with chronic spinal cord injuries with their own adult stem cells;
  • Durin Technologies, working to develop a blood test to diagnose Alzheimer's, Parkinson's and other neurodegenerative diseases;
  • GeneAssess, Inc.,  a company developing a diagnostic tool for more accurate breast cancer staging;
  • Longevica Pharmaceuticals, Inc., developing a chemoprotective agent that may keep normal cells healthy during cancer treatments (FVCG's equity interest in Longevica was sold to Rostock International, LTD, a subsidiary of a Moscow (Russia) based global investment firm);
  • MentiNova, Inc., working to reduce side effects of L-Dopa Induced Dyskinesia
  • Snowdon Pharmaceuticals, Inc., a drug discovery company focused on several major therapeutic areas.


'/>"/>
SOURCE New Jersey Health Foundation
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. Simbionix firma un acuerdo con la Laparoscopic Surgical Skills Foundation (LSS)
2. Simbionix Signs an Agreement with the Laparoscopic Surgical Skills Foundation (LSS)
3. The Michael J. Fox Foundation Launches New Funding Opportunities for Parkinsons Research
4. National Patient Advocate Foundation Supports 340B Drug Discount Program Review Identifying Risks to Underinsured Patients
5. Metabolic Solutions Development Company Awarded Funding by The Michael J. Fox Foundation
6. Se crea en Taiwán la Tang Prize Foundation
7. Tang Prize Foundation Established in Taiwan: Academia Sinica to be Responsible for the Nomination and Selection of the International Awards in Taiwan
8. Foundation Venture Capital Group Invests In Start-Up Working to Reduce Side Effects of Parkinsons Treatment
9. Asthma and Allergy Foundation of America Challenges Patients and Caregivers to Get Smart About Asthma
10. New Jersey Health Foundation Awards First Two Innovation Stage Funding Grants
11. UCB, Inc. and Arthritis Foundation Partner to Celebrate the "Everyday Victories" of the Rheumatoid Arthritis Community
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:8/14/2017)... HACKENSACK, N.J. and PETACH TIKVAH, ... Therapeutics Inc. (NASDAQ: BCLI), a leading developer of adult ... for the second quarter ending June 30, 2017. ... advanced stages of preparing for our pivotal Phase 3 ... Chaim Lebovits , President and Chief Executive Officer ...
(Date:8/8/2017)... Second-quarter 2017 revenues of $876 million ... continuing operations Second-quarter 2017 ... million Second-quarter 2017 Sterile ... Second-quarter 2017 adjusted diluted earnings ... to $0.93 Second-quarter 2017 ...
(Date:8/7/2017)... -- Diplomat Pharmacy, Inc. (NYSE: DPLO), the nation,s largest independent specialty ... 2017.  All comparisons, unless otherwise noted, are to the quarter ... Second Quarter 2017 Highlights include: ... of 3.5% Total prescriptions dispensed of 220,000, ... versus 7.6% Gross profit per prescription ...
Breaking Medicine Technology:
(Date:8/23/2017)... VA (PRWEB) , ... August 23, 2017 , ... The Stevie® Awards have announced the ... Business Awards , the world’s premier business awards competition. , Nominees in the 2017 IBAs ... determined by a points system based on the total number of awards won in the ...
(Date:8/23/2017)... ... August 23, 2017 , ... Boling ... returned home to Indiana, and is now seeing patients at Boling Vision Center’s ... specializes in the diagnosis and treatment of eye disease, medical retina, high-technology cataract ...
(Date:8/23/2017)... ... August 23, 2017 , ... ... Academy of Orthopaedic Surgeons , points out that therapeutic modalities (physical therapy) is ... injury. According to the report, a wider scope of physical therapy options is ...
(Date:8/22/2017)... ... August 22, 2017 , ... Western ... spoke at a popular international aesthetics conference for medical professionals about the positive ... patients’ health and his growing practice. , Dr. George K. Ibrahim ...
(Date:8/22/2017)... ... ... Glass is new to the Texas market, but is proudly managed by widely recognized All ... models, in Grand Prairie, TX, located in the center of the DFW Metroplex, the fourth ... for the past 40 years with 32 convenient locations in Texas, Nevada and California resulting ...
Breaking Medicine News(10 mins):