INDIANAPOLIS, Indiana (December 14, 2020) – Toralgen, an Indiana-based biotechnology company has announced the successful completion of its second seed funding round, raising a total of $8.3 million. The preclinical stage company will use the funds to further development of their novel nanoparticle drug delivery platform and advance industry partnerships.
Participants in the round include Elevate Ventures, Solyco Advisors, and VisionTech Angels well as investors and strategic partners with deep domain expertise.
All of the company’s original investors participated in this second seed round. CEO Gerald Rea said, “This is a clear sign of confidence in our drug delivery platform technology and its commercial potential. Our strong preclinical data, growing world-class team, and industry interest give our company and investors great confidence going forward.”
Toralgen’s poly-bile nanoparticle platform is unique in that it eliminates the challenges of oral drug delivery in one, simple-to-fabricate nanopill. These nanopills also localize delivery of drug agents and potentially improve efficacy and safety of a wide range of therapies. Toralgen currently has two candidates in preclinical testing for the oral delivery of diabetes agents.
The company was recently accepted into the FDA’s Emerging Technology Program, which was established to help companies advance technologies that the FDA believes have the potential to improve drug safety and efficacy. This will allow Toralgen to have more regular dialogue with the FDA as it advances its poly-bile nanoparticle platform.
About Toralgen, Inc.
Toralgen, Inc. is a preclinical stage biopharmaceutical company focused on the development and commercialization of human therapeutics. Its poly-bile nanoparticle platform eliminates many of the innate challenges of biologics and has the potential to improve outcomes through optimized drug delivery. Toralgen is currently studying treatments for diabetes and autoimmune disorders. For information or to inquire about possible collaborations, visit our website.
About VisionTech
Founded in 2008, VisionTech is a privately held company that links investors to high-potential, early-growth companies. Based in Indianapolis, VisionTech’s angel investing network includes 175 members and chapters in Bloomington, Fort Wayne, Indianapolis, and Lafayette, Indiana; and Dayton, Ohio. As of December 2020, VisionTech has deployed more than $21 million in capital, investing in 46 portfolio companies from across the United States. Membership in VisionTech Angels is open to accredited investors. Those interested in joining are encouraged to contact VisionTech.