Azitra Completes $14 Million Series A Financing
FARMINGTON, Conn.--(BUSINESS WIRE)--Oct 15, 2019--
Azitra Inc., a clinical-stage medical dermatology company addressing serious skin conditions by harnessing the microbiome, today announced that it has closed a $14 million Series A financing. The financing was led by KdT Ventures in conjunction with existing investor Bios Partners. Connecticut Innovations and Godfrey Capital also participated in the round. Proceeds from the financing will be used to expand the management team and to advance Azitra’s medical dermatology products in the clinic. This financing brings the total raised to date to $17 million.
“Our research continues to support the tremendous potential of our live biotherapeutic products to address multiple serious skin conditions and diseases. We believe we are just beginning to define the extraordinary potential of the microbiome to improve the health of skin,” said Richard Andrews, President and Chief Executive Officer. “We are grateful for this funding, which will allow us to expand our management team and advance our key products in the clinic in 2020. We have already initiated plans to execute a series of clinical studies with both our lead compound ATR-04 addressing cancer therapy associated skin rashes and ATR-02 to treat Netherton syndrome, an orphan skin disease.”
Azitra is focused on treating skin disease by combining the potential of the microbiome with state-of-the-art molecular genetics. The company’s product pipeline includes medical dermatology products to treat cancer therapy-associated skin rashes, Netherton syndrome, atopic dermatitis and ichthyosis vulgaris.
“We are thrilled to have co-led this round for Azitra and continue to be impressed with the power and breadth of the company’s proprietary platform,” said Cain McClary, Managing Partner, KdT Ventures. “We look forward to working with Azitra as they move their candidates into the clinic, building a deep portfolio of innovative medical dermatology compounds.”
“Azitra is on an a very exciting trajectory, and the Company is in the process of building out its team and research,” said Travis Whitfill, cofounder of Azitra and Partner at Bios Partners. “Bios Partners is proud to support Azitra, and we believe 2020 will be a transformative year for Azitra as the company begins to treat patients with debilitating skin diseases.”
Azitra, Inc. is a clinical-stage medical dermatology company that combines the power of the microbiome with cutting-edge genetic engineering to treat skin disease. The company was founded in 2014 by scientists from Yale University and works with world-leading scientists in dermatology, microbiology, and genetic engineering to advance its pharmaceutical programs to treat cancer therapy associated skin rashes, targeted orphan indications and atopic dermatitis. For more information visit http://www.azitrainc.com.
About Bios Partners
Bios Partners is a venture capital firm focused on investing in early-stage biopharmaceutical and medical device companies. Founded in 2014 and based in Fort Worth, TX, the firm utilizes an experienced team of industry professionals to actively collaborate with its investment portfolio companies and enhance stakeholder value. For more information, please visit www.biospartners.com.
About KdT Ventures
KdT Ventures is an early stage Venture Capital firm focused on the enablement that data and frontier computational technologies have brought to the physical and life sciences. To this end, KdT invests in transformative technologies and platforms across the verticals of Medicine, Chemicals, and Agriculture, utilizing an extensive network of fellow entrepreneurs, advisors, and funders to support its portfolio companies. For more information, please visit www.kdtvc.com.
About Connecticut Innovations
Connecticut Innovations (CI) is Connecticut’s strategic venture capital arm and the leading source of financing and ongoing support for growing, innovative companies. CI provides venture capital and strategic support for early-stage technology companies; financial support for innovation and collaboration; and connections to its well-established network of partners and professionals. For more information, visit www.ctinnovations.com.
View source version on businesswire.com:https://www.businesswire.com/news/home/20191015005666/en/
CONTACT: Michelle Linn
KEYWORD: UNITED STATES NORTH AMERICA CONNECTICUT
INDUSTRY KEYWORD: ALTERNATIVE MEDICINE HEALTH INFECTIOUS DISEASES CLINICAL TRIALS PHARMACEUTICAL BIOTECHNOLOGY
SOURCE: Azitra Inc.
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PUB: 10/15/2019 09:02 AM/DISC: 10/15/2019 09:02 AM