Funding used to boost development and start clinical trials in humans in 2023
GREENVILLE, S.C., April 07, 2022 (GLOBE NEWSWIRE) — Elastrin Therapeutics Inc., a privately held biotechnology company leveraging a platform to develop therapeutics that render calcified tissue and organs supple again, today announced the closing of a $10 million funding round led by Kizoo Technology Capital, a leading early-stage investor in breakthrough rejuvenation technologies. Other investors in the round include Starbloom Capital and SC Launch. Elastrin Therapeutics was founded in 2018 as a spinout from Clemson University where the technology was first developed over a 20-year period. The company’s lead asset ELT-001 is an EDTA-loaded nanoparticle conjugated with a proprietary monoclonal antibody for the treatment of vascular calcification.
Frank Schueler, Managing Director of Kizoo Technology Capital, explains: “We´re excited to lead the round for Elastrin. We have been impressed by what the small team accomplished in a short period of time, and we look forward to seeing the company grow and help millions of people. Their technology is truly groundbreaking by not only delaying age-related disease but also reversing them.”
“This is another incredible milestone for our company. It´s fantastic to have the support of our strong investors as we look to growing the company and scaling the technology,” said Matthias Breugelmans, CEO of Elastrin Therapeutics. “We want to save lives, and the capital, network, and knowledge that our investors bring to Elastrin Therapeutics is a true asset to enable us doing so at record pace.”
“We are proud to see the company grow and to be part of its journey with this revolutionary technology platform, truly making an impact for healthy living by repairing significant damage of aging,” commented Patrick Burgermeister, Partner at Kizoo Technology Capital and member of Elastrin Therapeutic´s Board of Directors.
Kizoo provides seed and follow-on financing with a focus on rejuvenation biotech. Having been entrepreneurs, VC, and mentors in both high-growth tech and biotech companies for many years – with multiple exits and massive value created for the founders – Kizoo now brings this experience to the emerging field of rejuvenation biotech. We see it as a young industry that will eventually outgrow today’s largest technology markets.
As part of Michael Greve’s Forever Healthy Group, Kizoo directly supports the creation of startups turning research on the root causes of aging into therapies and services for human application. Investments include Cellvie, Underdog, Revel Pharmaceuticals, Elastrin Therapeutics, and others.
Forever Healthy’s other initiatives include the evaluation of new rejuvenation therapies, evidenced-based curation of the world’s cutting-edge medical knowledge, funding research projects on the root causes of aging, and hosting the annual Undoing Aging Conference.
About Elastrin Therapeutics Inc.
Elastrin Therapeutics is a South Carolina-based biotech developing novel therapies to reverse cardiovascular disease. Its underlying technology was developed by Dr. Naren Vyavahare over the last 20 years at Clemson University. Our team has built a proprietary platform that targets and restores degraded elastin by removing the harmful calcification that stiffens arteries. The platform significantly improves the efficacy of drugs and eliminates side effects by combining particle design with elastin targeting.
Further information can be found at www.elastrin.com
About SC Launch
Established in 2006, SC Launch, Inc. is an independent, non-profit corporation affiliated with SCRA (South Carolina Research Authority), which provides loans and investments to selected South Carolina-based companies participating in the SC Launch program. The SCRA was chartered in 1983 by the State of South Carolina as a public, non-profit corporation. The SCRA fuels South Carolina’s Innovation Economy by accelerating technology-enabled growth in research, academia, entrepreneurship and industry.
For more information, please visit: www.scra.org/sclaunchinc
About Starbloom Capital
Starbloom Capital is a crypto-based family office that supports companies developing revolutionary longevity technologies.
Media Contact for Kizoo:
Kizoo Technology Capital
MC Services AG
Media Contact for Elastrin Therapeutics:
Chief Executive Officer
Elastrin Therapeutics Inc.