Monday January 22
Source: PR Newswire
ROCKVILLE, Md., Jan. 22 /PRNewswire/ -- Aixlie Pharmaceuticals, Inc,. today announced that they have obtained an investment from Epsilon Venture Fund, Inc., Boston, MA. The terms of the investment were not disclosed. "We are excited that a venture fund focused on biotechnology has taken a strong interest in Aixlie," said Gary Pekoe, Ph.D., President & CEO of Aixlie. "Our vaccine technologies provide us with an attractive platform in the breast cancer and multiple sclerosis (MS) therapeutic areas. We are pleased that the Epsilon Venture Fund has chosen to invest in us, and look forward to their participation. As our initial investor, they open the door to the participation of other individuals and corporations seeking to make a difference in diseases such as breast cancer. We want to move aggressively forward to have our products tested and FDA approved."
"We believe that Aixlie Pharmaceuticals, Inc., deserves to be funded. We are proud to be the first fund to take an equity investment in this important company," said Tom Trexler of Epsilon Venture Fund, Inc.
Aixlie is currently developing two peptide vaccines designed by researchers at The Ohio State University. The breast cancer vaccine, HER- 2VAX(TM), has been shown to be safe and immunogenic in a Phase I clinical trial. The MS vaccine was shown to be effective in an accepted animal model and is expected to enter clinical trials in the second quarter of 2001. Aixlie is currently raising seed funding of up to $500,000, with a goal of raising at least $5,000,000 over the next two years to fund the expansion of clinical trials. Aixlie expects to close its first phase of funding in March 2001.
Aixlie Pharmaceuticals, Inc., a Maryland biopharmaceutical company, is dedicated to the development of novel therapies designed to treat cancer, autoimmune, and dermatologic conditions. Aixlie is currently seeking partnerships to develop and commercialize these and other technologies.
For more information, contact Gary Pekoe, PhD, CEO, at 703-242-6835, or at firstname.lastname@example.org .
Contact: Gary Pekoe, PhD, CEO of Aixlie Pharmaceuticals, Inc., 703-242-6835, or email@example.com