Fountain Therapeutics, a biopharmaceutical company building a pipeline of therapeutics to treat age-related diseases by reversing cellular age, closed on an additional $6 million in a Series A, bringing its total to $11 million. Khosla Ventures led the round that drew capital from Nan Fung Life Sciences, the provider of initial $5 million in 2018.
In a press release, the company said it will use the capital to build out the senior leadership team and “enhance” the capabilities of the company’s technology platform. Fountain also plans to advance novel therapeutics identified by the platform through preclinical testing in animals.
“Over the last two years we have built and validated our platform technology, which includes an AI-based drug screening platform and animal models for disease modeling and preclinical testing,” CEO John Dimos, PhD, stated in the release. “This has allowed us to generate unprecedented insights into the cellular aging process. Today, thanks to the help of our investors, we are in a strong financial position to rapidly discover and develop a pipeline of novel therapeutics to target and reverse the biological process of aging with the potential to improve the quality of life for our aging population.”
Co-founder Thomas Rando, MD., PhD., who chairs the company’s board, said he has spent 20 years in aging research. He said he co-founded the company to target the underlying mechanisms of aging to treat disease.
“Fountain’s technology allows us to solve the challenges of aging with an unbiased and phenotypic-driven approach,” he stated in the release.”This, together with the outstanding team of experts in aging research, places the company in a unique position to reveal new possibilities and radically transform the landscape of drug discovery and development for the treatment of age-related health conditions.”
Filed Under: Drug Delivery, Drug Discovery, Drug Discovery and Development