Drug research company in LaFayette receives $10 million in funding

Wednesday, July 25, 2018

Source: Syracuse.com

Antoxerene Inc., a pharmaceutical research company in LaFayette, has closed on a $10 million deal with a British investment company to develop drugs that fight age-related diseases.

Antoxerene, a portfolio company of Ichor Therapeutics Inc., said it has launched a joint venture with Juvenescence Ltd., a U.K.-headquartered firm founded in 2017 that invests in companies with therapies for aging and age-releated diseases. 

The joint venure, FoxBio Inc., will develop Antoxerene's collection of small molecules that target senescent cells - cells that cause diseases, such as cancer, as people age.

Juvenescence will support the venture with $10 million in equity financing and drug development expertise, Antoxerene said. 

"There has been a lot of interest surrounding the therapeutic applications of senolytic drugs - compounds that clear toxic senescent cells - particularly with respect to age-associated disease," said Antoxerene CEO Kelsey Moody, who founded Ichor in 2013 and Antoxerene in 2016. "As molecular pathways unique to senescent cells have begun to be identified, we can now develop drugs to target these pathways."

Ichor employs 20 people at its corporate offices and research laboratory at 2521  U.S. Route 11. It provides pre-clinical research services and uses the proceeds from that work to support the research and development initiatives of its portfolio companies.

In addition to Antoxerene, Ichor owns Lysoclear Inc. (enzyme therapy), Auctus Biologics Inc. (antibody mimetics); and RecombiPure Inc. (protein engineering). FoxBio will also be based at the LaFayette facility.

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