Gastrointestinal Gene Therapy Biotech DNAlite Therapeutics Raises $1.5M in Seed Funding
SAN FRANCISCO--(BUSINESS WIRE)--Aug 8, 2018--DNAlite Therapeutics, Inc., an early stage preclinical therapeutic company has raised $1.5 million in a seed-stage financing. DNAlite was founded by UC Berkeley graduates Mubhij Ahmad and Timothy Day in 2016. The proceeds of the round will be used to continue development of gastrointestinal tract gene therapy treatments for patients who suffer from genetic intestinal diseases, utilizing DNAlite’s proprietary delivery platform technology.
Berkeley-based Berkeley Catalyst Fund led the Seed round. University of California Berkeley, Blue Bear Ventures, SOSV, and the Baldota family also participated, alongside Chinese biopharma BrightGene and Silicon Valley-based SVE Capital.
Co-founder Mubhij Ahmad remarked, “We are very excited to receive this investment to help DNAlite push forward its technology. We look forward to continuing to work closely with our investors and partners to move new treatments further through our pipeline. We are pleased to bring on board Xixi Zhu with her scientific background and experience in operations, cross border fundraising and business development and Dr. Cassandra Callmann with her expertise in nanoparticle drug delivery.”
Co-founder Dr. Timothy Day remarked, “DNAlite is focused on treating the underlying cause of specific diseases in the gastrointestinal tract. With this investment, we will be able to advance our treatment strategy that helps to address the need of patient populations with limited therapeutic options.”
About DNAlite Therapeutics, Inc.
DNAlite Therapeutics, Inc. is an early-stage preclinical biotechnology company committed to bringing the next-generation of drugs to organs protected by mucosal barriers. DNAlite is currently developing a gene therapy strategy to treat monogenetic gastrointestinal diseases by delivering a functional copy of the gene to patients’ gastrointestinal epithelium.
About Berkeley Catalyst Fund
The Berkeley Catalyst Fund (BCF) provides benefits to entrepreneurial startups and helps foster the vibrant startup ecosystem around the UC systems located in the San Francisco Bay Area. BCF invests primarily in Seed and Series A stage private companies.
About BrightGene Bio-medical technology Co.,Ltd
BrightGene Bio-medical technology Co.,Ltd., is a leading Chinese biopharmaceutical company in small molecules and nucleotide drugs areas. Advised by China-based venture capital fund Laurel Venture Capital, BrightGene invests in all stage therapeutics and innovations.
View source version on businesswire.com:https://www.businesswire.com/news/home/20180808005096/en/
CONTACT: DNAlite Therapeutics, Inc.
Xixi Zhu, 415-438-0392
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: EDUCATION UNIVERSITY HEALTH BIOTECHNOLOGY GENETICS PHARMACEUTICAL PROFESSIONAL SERVICES FINANCE RESEARCH SCIENCE
SOURCE: DNAlite Therapeutics, Inc.
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PUB: 08/08/2018 10:00 AM/DISC: 08/08/2018 10:01 AM