Keiretsu and Business Angels Provide Funding to Support Research into Neuropathic Pain Compounds iQ-007 and iQ-008
PRINCETON, N.J., Aug. 31, 2022 /PRNewswire/ — iQure Pharma Inc. (iQure), a Princeton-based global biotech company, today confirmed completion of Early Closing as part of its Series A investment, which will support ongoing research into non-opioid therapeutics for neuropathic pain.
iQure Pharm has secured over $600k of commitments to date and is supported by Keiretsu Mid-Atlantic, together with business angels associated with Keiretsu’s Accelerator Fund and the Keiretsu North-West chapter, to advance the preclinical development of iQure’s novel therapeutics iQ-007 and iQ-008. In addition, both compounds are supported by non-dilutive funding through the NIH epilepsy (ETSP) and NIH pain (PSPP) programs.
"We are so thankful to all of our early investors," said iQure Chief Executive Officer Pawel Zolnierczyk. "Their support of our novel therapeutics for neuropathic pain validates our strong experimental data. Along with support from the NIH, this latest investment enables iQure to further develop our assets and increase our value. With the support of our investors and researchers, we are proud to be a part of the biotech community developing promising therapies of the future."
In particular, iQ-007 has demonstrated positive results in NIH ETSP tests, which show that the compound has the ability to treat pain, epilepsy, and potentially neurodegenerative diseases. Additionally, iQ-008 has progressed within the NIH PSPP program focused on pain. iQ-008, a novel analgesic compound, is progressing to the next stage in the Preclinical Screening Platform for Pain (PSPP), which has been set up under the HEAL initiative to facilitate the identification of potential non-addictive treatments for acute and chronic pain conditions and alternatives to opioid analgesics.
Chronic pain is among the most common chronic conditions in the United States. In 2019, 20.4% of adults had chronic pain and 7.4% had high-impact chronic pain that limited life or work activities. Twenty million Americans are estimated to have some sort of peripheral neuropathy. Neuropathic pain is considered one of the most severe forms of chronic pain.
A global biotech firm headquartered in Princeton, New Jersey, iQure Pharma is focused on the development of new therapeutics for neuropathic pain, epilepsy, and wider neurodegenerative diseases. iQure researchers, clinicians, and pharmaceutical professionals work closely with academic partners, industry experts, and patient organizations to build medically and socially beneficial therapies. For more information about supporting iQure’s initiatives, contact iQure CFO Dr. Anna Rzewuska at email@example.com.
SOURCE iQure Pharma