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news.Oisín Biotechnologies has announced the initial close of its Series A financing raising $15m, earmarked for advancing its pipeline of therapies for age-related diseases.
The capital will be allocated to propel Oisín's ongoing programmes. Credit: fernando zhiminaicela from Pixabay.
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AbbVie Ventures led the investment round and, as part of its commitment, the company’s associate director Danjuma Quarless will join the board of directors of Oisín.
As part of the funding, AbbVie Aesthetics R&D senior vice-president Darin Messina will become part of Oisín’s scientific advisory board.
Oisín plans to utilise the funding from the Series A round to progress its pipeline of therapies for age-related ailments toward clinical development.
The capital will be allocated to propel Oisín’s ongoing programmes, which include candidates designed to eliminate unwanted fat cells and increase muscle mass to combat frailty in aging populations.
Oisín’s approach utilises the Fusogenix Proteo-lipid Vehicle (PLV) delivery system, a technology developed by Entos Pharmaceuticals.
This system enables the targeted delivery of DNA to cells, addressing the cellular damage and negative effects associated with aging.
Based in Seattle, US, Oisín leverages the PLV technology to administer DNA directly to cells.
The company’s initial therapeutic focus is on obliterating senescent fat cells and enhancing muscle mass, targeting key issues in the aging demographic.
Oisín Biotechnologies CEO Matthew Scholz said: “The appetite for therapies that can address age-related diseases has really grown, and the overwhelming popularity of GLP-1 agonists such as semaglutide and tirzepatide is spurring demand for treatments to mitigate muscle loss that frequently comes with them.
“This is huge potential market for our muscle building therapy that didn’t exist a few years ago. With our focus on age-related disease and a promising platform, we believe Oisín is uniquely positioned to bring a new generation of therapies to the clinic.”
