Carigent will apply the proceeds to further develop its nanotechnology platform, improve laboratory production capabilities and core expertise to support partnerships with pharmaceutical and biotechnology companies, and advance its lead therapeutic product candidates toward clinical studies.
Carigent is also advancing a new drug delivery technology that aims to improve drug efficacy and safety by engineering nanoparticles that optimize delivery and controlled release of therapeutic and diagnostic agents into diseased tissues and cells.
Seth Feuerstein, president and a co-founder of Carigent, said: “With this technology, Carigent is able to deliver on four key promises of improved drug delivery-the ability to control drug release, to target binding agents to a specific physiological site, to combine multiple payloads within the carrier, and to engineer delivery enhancements for existing drugs on the market or for drugs that have failed due to formulation or toxicity issues.”