Pro­men­tis rais­es $26M for glu­ta­mater­gic drug R&D; CARB-X of­fers up to $48M for fight­ing drug-re­sis­tant bac­te­ria

→  Mil­wau­kee-based Pro­men­tis Phar­ma­ceu­ti­cals has raised $26 mil­lion in a C round. Or­biMed, F-Prime Cap­i­tal Part­ners (for­mer­ly Fi­deli­ty Bio­sciences) and Ais­ling Cap­i­tal led the round. Ex­ist­ing in­vestors, in­clud­ing Black Pearl GmbH, the Gold­en An­gel Net­work and in­di­vid­ual in­vestors, al­so par­tic­i­pat­ed. The biotech is push­ing SXC-2023 — a small mol­e­cule de­signed to en­gage Sys­tem Xc-, a CNS tar­get ad­dress­ing glu­ta­mater­gic dys­func­tion and ox­ida­tive stress — in­to Phase II. The biotech has raised a to­tal of $31 mil­lion.

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