A startup that is developing therapeutics for an incurable lung disease and has Indiana connections has received a $950,000 boost. A group that includes the BioCrossroads Indiana Seed Fund II and Indiana University’s Innovate Indiana Fund is supporting Cleveland-based Allinaire Therapeutics, which focuses on treatments for Chronic Obstructive Pulmonary Disorder. A scientific founder of the company is IU School of Medicine Associate Research Professor of Cellular & Integrative Physiology Matthias Clauss.
BioCrossroads and IU were joined in funding by BioMotiv, which is a biomedical accelerator connected to the Harrington Project for Discovery & Development in Cleveland.
BioCrossroads Chief Executive Officer says "Allinaire has great promise – an outstanding research and development team, the support of one of the premier accelerator programs in the U.S., novel science and now funding to move their innovation forward."
Innovate Indiana Fund Managing Director Ken Green says "Allinaire Therapeutics’ technology demonstrates great potential to become a disease-modifying approach to COPD and emphysema. As Class A investors, Innovate Indiana looks forward to working closely with the Allinaire Therapeutics team to ensure the continued success of the technology and the company."
You can read more about the funding by clicking here.