Quark Venture Inc. , and GF Securities has announced US$1 Investment of 6 million in Biscayne Neurotherapeutics (Biscayne) through the Global Health Sciences Fund Biscayne lead compound BIS-001 is a novel anti-epileptic agent in clinical development. Quark Venture and GF Securities were joined by Mesa Verde Venture Partners of San Diego and current shareholders of Biscayne for a total Series B increase of more than US$3 million.
The investment in Series B will enable Biscayne to initiate and complete a Phase 1b proof of concept test of its new extended BIS-001 release in 2017. BIS-001 is a novel synthetic form of huperzine A, a traditional Chinese medicine that has been used for cognitive disorders for centuries. Biscayne is initially developing BIS-001 for the treatment of refractory focal epilepsy, including refractory partial complex seizures and children with Dravet Syndrome.
Epilepsy affects 1% of the population and refractory partial seizures are the most common type of seizures in older children and adults. Mortality for people with refractory seizures is high, and the impact of ongoing seizures can be appalling for people with epilepsy and their families.
Dravet syndrome is a rare, catastrophic, life-long form of epilepsy that begins in the first year of life with frequent and/or prolonged seizures. The estimated incidence rate in the United States is approximately 1:16,000 to 1:21,000. Over 80 per cent of people with this syndrome have a gene mutation that causes problems in the way that a specific ion channel works in the brain. Patients with Dravet Syndrome have a high disability and 15-20 percent mortality rate.
‘The Global Health Sciences Fund’s goal is to invest in the best science the world has to offer, so we are pleased to partner with Biscayne, whose innovative science has been developed by Harvard and Yale researchers,’ said Karimah Es Sabar, GHSF Director & Chief Executive Officer, Quark Venture. ‘We are impressed by the leadership and their unique approach to finding a solution to this devastating disease, for which there is currently no therapy available. ”
Huperzine A, a potent inhibitor of high brain penetration acetylcholinesterase, offers a unique mechanism of action for the treatment of epilepsy BIS-001 has shown promising efficacy in highly predictive preclinical models of refractory complex partial epilepsy, providing 100% elimination of seizures in most animals. In a Phase 1 trial in patients with drug-resistant epilepsy, BIS-001 appeared safe and serum levels were obtained to support its development as an effective anticonvulsant. Biscayne has developed an extended release formulation to ensure convenient and compliant dosing for the patient.
‘We welcome the involvement and investment of Quark Venture and GF Securities and the Global Health Sciences Fund, along with our other new and existing investors. This investment enables us to move forward with this highly promising treatment for many people with severe epilepsy, a disabling condition that lacks safe and effective treatment options. We believe that BIS-001 may offer a completely new approach to seizure control and may also provide cognition-maintenance or enhancement benefits for patients, a much-needed attribute of anticonvulsant therapy that may actually worsen the cognition deficits often associated with the condition,” said Stephen Collins, MD, PhD, President and CEO of Biscayne Neurotherapeutics.
‘This investment by Quark, GF Securities and Mesa Verde addresses the global needs for new therapies for central nervous system refractory diseases. We greatly appreciate the benefits of partnering with such an excellent group of investors and the depth of resources now available to our company,” said Samuel Reich, Executive Chairman of Biscayne Neurotherapeutics.
About Quark Ventures
Quark Venture focuses on the equity financing of innovative biotechnology and health sciences companies with advanced technology platforms and projects. The organization’s approach is to establish long-term relationships with target companies, with a view to enabling and strengthening management to realize the full potential and value of technology. This approach has previously been successfully demonstrated in the energy and high tech sectors where Quark Venture partners have invested. The management of Quark Venture is supported by the Scientific and Commercial Advisory Board Visit www for more information on Quark Venture Quarkventures Come on,
About GF Values
Incorporated in September 1991, GF Securities is a provider of comprehensive capital market services with industry-leading innovation capabilities aimed at serving China’s quality SMEs and affluent individuals. GF Securities is listed both in Hong Kong (01776). HK) and Shenzhen (000776) SZ) stock exchanges with a total market capitalisation of approximately US$20 billion GF Securities is a leader in the entire spectrum of its core business services: investment banking, wealth management, trading and institutional client services, and investment management. Visit www for more information. Well, gf Come on, Uh, cn
Global Health Science Fund
The Global Health Science Fund was established jointly by Quark Venture Inc. and GF Securities at the end of 2016 The Global Health Science Fund is a health sciences venture fund that invests globally in a diversified portfolio of innovative biotechnology and health science companies addressing unmet medical needs through innovations in drug development, medical devices, health IT and emerging convergence technologies.
About Biscayne Neurotherapeutic
Biscayne Neurotherapeutics is a clinical biotechnological company developing novel drugs for serious central nervous system disorders such as refractory epilepsy. Biscayne lead compound BIS-001 has shown striking efficacy in highly predictive models of difficult-to-treat epileptic conditions such as complex partial seizures and Dravet syndrome. Biscayne’s technology is licensed from Harvard University, Yale University and South Florida University. Biscayne is headquartered in Miami, Florida. For more information, visit the website of the company, biscayneneurotherapeutics. Com, which is currently under construction but is expected to be operational shortly
Please note that this piece of work originally appeared in English at https://www.vcnewsdaily.com/Biscayne%20Neurotherapeutics/venture-funding.php. As Investocracy aims to bring global startup news and updates in both English and Japanese to you, it’s important that we attribute original source to you. If you have any questions/concerns please write to us at contact@investocracy.co
