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Maxwell Biosciences Grabs $10.8M Seed Round

2022-03-10
AUSTIN, TX, Maxwell Biosciences today announced that it has closed an oversubscribed $10.8 million Seed Capital raise.
Maxwell Biosciences ("Maxwell") is a preclinical stage drug platform company actively developing drugs that mimic the germ-fighting properties of the innate immune system. Maxwell, which develops synthetic, low molecular weight drug candidates - CLAROMERS™ - designed to serve as therapeutics against rapidly evolving, widespread viruses, today announced that it has closed an oversubscribed $10.8 million Seed Capital raise. DecentraNet led the round, with participation from Star Lake Bioventures, Joseph Ventures, Keiretsu Forum and members of Harvard Business School Angels. The funding will enable Maxwell to accelerate the development of its innovative platform, recruit and retain top talent, pursue clinical trials, and scale up manufacturing capabilities.

Founded in 2016, Maxwell Biosciences is developing a first-in-class, peptidomimetic drug platform that outputs low-molecular weight compounds that are functionally distinct from macromolecules because of their ability to easily penetrate membranes. These compounds are designed to functionally mimic human peptides for the treatment of disease. Maxwell's biomimetic therapeutics have been shown by the National Institute of Allergy and Infectious Diseases (NIAID) to be effective against all coronaviruses tested including SARS-CoV-2, SARS-1, MERS, and Coronavirus Beta. Maxwell's CLAROMER™ brand anti-infectives platform outputs a diverse library of oligomeric structures demonstrated to be well tolerated in animals and to potently disrupt the membranes of a broad spectrum of viruses and other pathogens, as shown in preclinical animal studies and electron micrograph imaging of bacterial, viral and fungal structures after CLAROMER treatment. They have also been shown in preclinical studies to be well tolerated in human tissues in vitro and in vivo in animal studies. Maxwell's technology is protected by granted patents and is led by a world-class team of experienced life science executives.
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