Nia Therapeutics and Peroxitech Raise Venture Funding

Two Penn spinout companies have brought in significant investments to help further develop their respective technologies. Penn spinout Nia Therapeutics is developing an advanced neurostimulation system to stimulate memory for patients suffering from certain neurological conditions such as traumatic brain injury. The company raised a seed round of $6.2 million to evaluate the safety and performance of its product in preclinical studies.

Another Penn spinout based at Pennovation Works, Peroxitech, raised a $25 million Series A financing round. 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. You can read more about both of these companies here

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