20 Sep Centrose lands $875K, seeks $3 million in total capital
Madison, Wis. – Centrose, a Madison biotechnology company, has received a commitment of $875,000 from the state Department of Financial Institutions, and would like to raise a total of $3 million, according to a report in the Milwaukee Journal Sentinel.
The publication cited documents filed with the DFI.
Centrose, which will present to investors at the BIO Mid-America Venture Forum in Milwaukee, is developing more effective drug therapies based on sugar chemistries. According to the company, sugar “attachments” are the missing link to improving the efficacy of new drugs.
The company, led by CEO James Prudent, has exclusive rights to 12 patents from the Wisconsin Alumni Research Foundation. It was spun out of research conducted by professor Jon Thorson at the University of Wisconsin-Madison’s School of Pharmacy.
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