Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=7a4b1a72-41ba-4af7-a7c1-9b493f4c658f&Preview=1
Date 4/24/2012
Company Name Oligomerix
Mailing Address 3960 Broadway New York, NY 10032
Company Description OLIGOMERIX Inc., is a biopharmaceutical company focused on developing novel drug discovery targets and therapeutics for Alzheimer’s disease and other neurodegenerative disorders. Founded in 2006, OLIGOMERIX has filed patents on tau protein oligomers (soluble aggregates) for drug and biomarker discovery. Soluble tau has been shown to cause neuronal loss and memory impairment. Compounds inhibiting the formation of tau oligomers or disrupting tau oligomers should inhibit neurodegenerative diseases. Antibodies against tau oligomers are being developed for drug discovery, for use in biomarker assays used to demonstrate drug efficacy, and to stage disease progression.
Proceeds Purposes Proceeds from the financing will be used to advance Oligomerix’s tau protease inhibitor program, which aims to neutralize tau outside of neurons, offering a more feasible approach to drug discovery than targeting intraneuronal tau oligomer formation.