Allinaire Therapeutics Receives Funding From Indiana Seed Fund II and Innovate Indiana
Life sciences startup receives significant funding for developing novel therapeutics for respiratory diseases
BioCrossroads Indiana Seed Fund II, BioMotiv and IU’s Innovate Indiana lead investment in Indiana University School of Medicine technology
INDIANAPOLIS, Jan. 26, 2017 — Each year, more than 25 million people in the U.S. suffer from Chronic Obstructive Pulmonary Disorder (COPD), a life threatening disease that interferes with normal breathing. Although 80 percent of people who die from COPD are former smokers, approximately 3 percent have a genetic disorder (alpha-1 antitrypsin or “AAT deficiency”). To date, there is no cure for either disease. Only symptomatic relief methods are available.
Dr. Matthias Clauss, scientific founder of Allinaire and Associate Research Professor of Cellular & Integrative Physiology, Indiana Center for Vascular Biology & Medicine, Indiana University School of Medicine, and Dr. Irina Petrache, scientific founder of Allinaire and chief, Division of Pulmonology, Critical Care and Sleep Medicine, National Jewish Health, discovered that symptoms of COPD and AAT deficiency can be mitigated by reducing the activity of certain secreted proteins. Their discoveries led to the formation of Allinaire Therapeutics LLC, a life sciences start-up company focusing on novel therapeutics for pulmonary diseases.
Allinaire recently received new investments from BioCrossroads’ Indiana Seed Fund II; BioMotiv, a biomedical accelerator affiliated with the Harrington Project for Discovery & Development; and Indiana University’s Innovate Indiana Fund to advance the development of therapeutics for the treatment of AAT deficiency, COPD and other respiratory disorders, including acute lung injury. In addition, the company has received grant support from the National Institutes of Health, Small Business Innovation & Research program.
“Allinaire has great promise – an outstanding research and development team, the support of one of the premier accelerator programs in the U.S., novel science and now funding to move their innovation forward,” said David L. Johnson, president and CEO, BioCrossroads.
Dr. Petrache is a Harrington Scholar-Innovator whose research was identified and supported by the Harrington Discovery Institute at University Hospitals in Cleveland, which is supported in part by a grant from the Ohio Third Frontier. Harrington Scholar-Innovators receive mentorship, resource connections and business support through this program.
“Allinaire Therapeutics' technology demonstrates great potential to become a disease-modifying approach to COPD and emphysema. As Class A investors, Innovate Indiana looks forward to working closely with the Allinaire Therapeutics team to ensure the continued success of the technology and the company,” said Ken Green, M.D., managing director of the Innovate Indiana Fund.
“We are pleased to partner with BioCrossroads and Innovate Indiana to support the advancement of these discoveries from Indiana University researchers,” said Baiju R. Shah, CEO, BioMotiv.
For information more about Allinaire, visit http://www.allinaire.com/.
BioCrossroads (www.biocrossroads.com) is Indiana's initiative to grow, advance and invest in the life sciences, a public-private collaboration that supports the region's existing research and corporate strengths while enabling new business start-ups and development. BioCrossroads provides capital and support to life sciences businesses, launches new life sciences enterprises (AgriNovus Indiana, Indiana Biosciences Research Institute, Indiana Health Information Exchange, BioCrossroadsLINX, OrthoWorx and Datalys Center), expands collaboration and partnerships among Indiana's life science institutions, promotes science education and markets Indiana's life sciences industry.
BioMotiv is the mission-driven accelerator associated with The Harrington Project for Discovery & Development, a $300 million initiative for advancing medicine centered at University Hospitals in Cleveland. The focus is to accelerate breakthrough discoveries from research institutions into therapeutics for patients through an innovative model that efficiently aligns capital and collaborations. The company leverages an experienced team and advisory board to select, fund, and actively manage and advance a portfolio of drug development programs. Learn more at www.biomotiv.com.
About Innovate Indiana
The Innovate Indiana Fund is a seed-stage venture fund affiliated with Indiana University that partners with companies who have a meaningful IU connection to provide funding, guidance and a world-class network.