TLDR:
- Oisín Biotechnologies has secured the first close of a $15M Series A funding round led by AbbVie Ventures.
- The company plans to use the funds to advance its pipeline of therapies for age-related diseases towards clinical development.
Oisín Biotechnologies, a biotechnology company based in Seattle, WA, has successfully completed the first close of a $15M Series A funding round. The funding was led by AbbVie Ventures, with Danjuma Quarless, Ph.D., Associate Director, AbbVie Ventures, joining Oisín’s Board of Directors, and Darin Messina, Ph.D., Senior Vice President, Aesthetics R&D, AbbVie, joining Oisín’s Scientific Advisory Board.
The company, under the leadership of CEO Matthew Scholz, is focused on developing genetic medicines to address age-related diseases. They utilize the Fusogenix Proteo-Lipid Vehicle (PLV) technology to deliver DNA directly to cells throughout the body, aiming to combat the damage and detrimental effects caused by the aging process itself. Oisín’s initial therapies target the elimination of unwanted fat cells and the enhancement of muscle mass.
With this new funding, Oisín Biotechnologies plans to accelerate the development of its pipeline of therapies for age-related diseases, moving them closer to clinical trials. This financial backing from AbbVie Ventures marks a significant milestone for the company as they progress towards bringing innovative solutions to combat the effects of aging.
