Cary-based NephroGenex, Inc. (www.nephrogenex.com), a biotech company developing treatments for kidney disease using scientific advancements in molecular profiling, has completed a seed funding of $500,000. Structured as a promissory note convertible to preferred stock, the financing was led by Discovery Life Sciences Fund, L.P., Vanderbilt University of Nashville,
TN, and Karolinska Innovations AB of Stockholm, Sweden.
NephroGenex will use the funds to initiate research and business operations and expand its intellectual property portfolio. The company was among the early-stage presenters at the Southeastern BIO Investors Forum (SEBIO) in Miami on Nov. 7-8. NephroGenex’s proprietary kidney-specific molecular profiling technology is establishing molecular ‘fingerprints’ for the leading renal diseases.
The technology provides for the identification of key pathogenic pathways as well as kidney disease patient populations that can potentially benefit from FDA approved drugs and established drug candidates.