An early-stage drug discovery company led by three professors from different Milwaukee-area universities is advancing closer to human clinical trials after raising seed funding from a new local angel investing group.
Estrigenix Therapeutics Inc. secured $150,000 from the Concordia Angel Network, a newly formed angel investing group associated with Concordia University Wisconsin’s CU Ventures, according to a May 3 announcement. The company is developing drug treatments for menopause and potentially Alzheimer’s disease.
The startup is using the funds to lease space at the accelerator building at UWM’s Innovation Campus in Wauwatosa. The funding will also help “prime the pump” for a larger venture capital raise of $2 million to $3 million that could come later this year, Estrigenix’s vice president of business development and CU Ventures president Daniel Sem said via email.