IU Philanthropic Fund invests in Carmel pharmaceutical company – WISH-TV | Indianapolis News | Indiana Weather

BLOOMINGTON, Ind. (Inside INdiana Enterprise) — In an effort to deal with Autism and Fragile X Syndrome, the IU Philanthropic Fund has made a $100,000 bridge funding in Carmel-based Confluence Prescription drugs. The brand new funding provides to the preliminary $200,000 from the fund in November 2018 as the corporate prepares for Part II scientific trials and a Collection B funding spherical subsequent 12 months.

The clinical-stage pharmaceutical firm is growing therapies for a number of neurological issues, together with these with signs of focus impairment, social and communication avoidance/withdrawal that include fragile X syndrome and autism spectrum dysfunction. Confluence says there aren’t any scientific therapies at present to handle the signs and says its therapy meets a beforehand unmet medical want, together with receiving Orphan Drug designation in Europe and the U.S.

“We’re delighted to have the IU Philanthropic Enterprise Fund as a associate and its continued assist by taking part in our bridge extension,” mentioned Steve Johns, president of Confluence Prescription drugs. “A medicine that would result in an total enchancment in core signs can have a big impression on sufferers’ every day residing actions and high quality of life.”

Confluence completely licensed mental property developed at IU by former school member Dr. Craig Erickson, who now serves as Confluence’s scientific founder/lead scientific advisor.

“These robust IU connections make Confluence Prescription drugs a perfect funding for the evergreen construction of the IU Philanthropic Enterprise Fund,” mentioned Teri Willey, fund supervisor and govt director of IU Ventures. “It additionally exhibits how the IU Innovation and Commercialization Workplace, which manages and licenses IU mental property, works with IU Ventures, which invests within the IU licensee by way of the IU Philanthropic Enterprise Fund, to assist carry IU discoveries to the general public by way of industrial channels.”

Confluence says it has secured licensing of Erickson’s newest mental property because the shut of its final funding spherical. The corporate says the Collection B spherical is predicted to fund Part II of the delicate X research, together with sure elements of autism spectrum dysfunction.

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