A small Indianapolis biotech startup has raised $800,000 in new funding, which it says will allow it to begin testing a new drug in patients suffering from brain injuries.
Theratome Bio Inc. plans to begin early-stage clinical trials next year of its lead drug, Thera-101, an injectable biologic designed to reduce brain injuries caused by stroke. The goal is to help patients recover motor skills and cognitive functions.
The fundraising represents a breakthrough for Theratome Bio, a 7-year-old company that has been working to commercialize research done by Dr. Keith March of the Indiana University School of Medicine.
March’s earlier research has produced more than 50 patents worldwide that have generated tens of millions of dollars in licensing revenue for the university.
March is best known for inventing the Closer, a device used to close the puncture wound in an artery following heart catheterization. The device has been used in millions of patients.