Two Penn spinout companies have recently brought in major investments to help further advance their technologies. Penn spinout Nia Therapeutics is developing an advanced neurostimulation system to stimulate memory for patients with traumatic brain injury. The company recently raised a seed round of $6.2 million to evaluate the safety and performance of its product in preclinical studies.
Another Penn spinout, Peroxitech, which is based out of Pennovation Works, recently raised a $25 million Series A. Peroxitech is working on a peptide to treat acute lung injury, and plans to further develop its preclinical work to advance its lead candidate, PIP-2, into clinical development. Read more about these two companies here.