Osmol Therapeutics closes its first $5.2M tranche of $7.5M Series A-1 funding

Osmol Therapeutics, a New Haven-based biopharmaceutical firm that focuses on the development of a treatment for chemotherapy-induced peripheral nervepathy (CIPN), closed its first tranche of a $7.5 million Series A-1 financing.

Koax Investment Partners led the round.

Osmol Therapeutics, headed by Bob Linke, President & Chief Executive Officer, is a biopharma firm that focuses on the development of a treatment for chemotherapy-induced peripheral nervepathy (CIPN). It was founded on Dr. Barbara Ehrlich’s research. The company’s lead indication will be for the prevention of CIPN related to taxane treatment.

Osmol’s lead drug candidate, OSM-0205, is based on Dr. Barbara Ehrlich’s research in neuronal calcium sensor-1 (NCS1) and was in-licensed from Yale University. OSM-0205 is intended to prevent off-target calcium spikes caused by taxanes, and possibly other chemotherapy treatments that may be associated with peripheral nerve damage.

The company will receive the first tranches of Series A-1 funding to enable it to finish the remaining Investigational New Drug enabling studies for OSM 0205, its lead drug candidate to treat chemotherapy-induced neuropathy. They will then be able to file an IND later in the year.

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