Aegle’s capital raise will fund the first clinical trial in the U.S. using exosomes isolated from allogeneic mesenchymal stem cells as therapy.
Aegle Therapeutics Corp., a first in class biotechnology company isolating extracellular vesicles, including exosomes (“EVs”), secreted by mesenchymal stem cells as therapy, today announced the closing of a $4M financing. Aegle’s platform technology is initially being developed to treat dystrophic epidermolysis bullosa (“DEB”), a rare pediatric skin blistering disorder. The investment was led by Boca Raton-based New World Angels, with participation from Tellus BioVentures, DEFTA Healthcare Technologies and DeepWork Capital, as well as exiting investors including OceanAzul Partners, LLC.
Aegle’s technology is based on decades of work conducted by Dr. Evangelos Badiavas, M.D., Ph.D., Aegle’s founder. Aegle’s proprietary isolation process safely and efficiently isolates EVs secreted by allogeneic bone marrow derived mesenchymal stem cells. In preclinical research, Aegle’s EVs demonstrated similar regenerative functionality to their parent cells, opening up the potential for “cell-free” therapy. Additionally, Aegle’s EVs carry specific proteins and mRNA that may prove essential for the treatment of DEB. Aegle’s technology is a platform technology with many potential indications in and beyond dermatology.
“We are very excited to close this first institutional financing round with such knowledgeable, high-caliber biotech investors,” said Aegle CEO Shelley Hartman. “The new funding validates our business plan and allows us to advance AGLE-102 into the clinic as well as expand the capabilities and opportunities of this cutting-edge platform.”
Aegle’s IND for the treatment of DEB patients has been cleared by the FDA. The Company anticipates beginning clinical trials in DEB in the first half of 2020.
“We are very excited to participate in advancing this pioneering research into the clinic. We expect that in addition to DEB, there are many other potential applications for this platform technology,” said Dr. David Schimmel of New World Angels who will join the Board of Directors, along with Lonnie Moulder at Tellus BioVentures and Elona Baum of DEFTA Healthcare Technologies.
Lonnie Moulder, founder of Tellus BioVentures, added ,”We are pleased to support the advancement of this very promising science into clinical trials by Aegle’s highly capable management team.”
Source – PRNewswire