VANCOUVER, British Columbia–(BUSINESS WIRE)–ABOzymes Biomedical Inc., at this time introduced it has accomplished a considerably upsized seed financing. The funds will likely be used to additional develop its ground-breaking proprietary platform that permits a world the place a affected person’s blood sort is now not the primary constraint once they want life-saving organ transplants or blood transfusions.
Constructed upon the discoveries of Dr. Peter Rahfeld, Professor Stephen G. Withers and Professor Jayachandran Kizzhakedathu of the Michael Smith Laboratories on the College of British Columbia (UBC), ABOzymes’ platform converts blood group antigens to group O, the common donor sort, which is able to improve donor organ matching alternatives and the availability of common donor blood. The corporate’s first merchandise will concentrate on kidney and lung transplants, and can develop to different strong organs and blood merchandise.
This funding builds upon a pre-seed financing accomplished in February 2021 and non-dilutive funding from the Canadian Glycomics Community, Genome British Columbia, NRC-IRAP and MITACS. The corporate’s analysis and improvement actions are additionally supported by $5M in grant funding from the US Air Pressure to its tutorial collaborators at UBC.
“Each physician has been taught that blood sorts are thought of absolute — ABOzymes has challenged this basic dogma of drugs. As soon as confirmed, our know-how will improve donor organ matching alternatives and the availability of common donor blood, which is able to in the end assist save lives,” stated John Coleman, PhD, President and CEO of ABOzymes. “This newest capital elevate is a vital milestone for ABOzymes, permitting us to develop the influence of our platform throughout various use circumstances, rent extra technical workers, and proceed to progress our preclinical program to realize our mission to enhance and save lives in methods beforehand deemed inconceivable. We respect the sturdy investor curiosity on this latest financing.”
Nature, the extremely revered scientific journal, has listed ABOzymes amongst its “Ones to Watch” record as a part of its worldwide Spinoff Prize competitors. In February 2022, a proof-of-concept research was printed in Science Translational Drugs outlining how ABOzymes’ platform can convert the blood sort in complete human lungs supposed for transplantation.
There are crucial shortages of O-type common donor blood that ABOzymes goals to handle with its merchandise. The corporate’s merchandise additionally intention to make organ transplants happen extra safely, quickly and equitably amongst sufferers with all blood sorts.
ABOzymes, a BC-based preclinical stage firm, has developed an progressive platform that permits a world the place an individual’s blood sort is now not the primary constraint once they want life-saving organ transplants or blood transfusions. ABOzymes has recognized enzymes that convert the cell floor antigen that determines blood group A to group O, common donor sort. ABOzymes’ platform will allow healthcare suppliers to raised prioritize sufferers by medical urgency, to spend much less on administration and logistics, and to in the end save extra lives. For extra info, please go to: www.abozymes.com