Paradox Immunotherapeutics, a pharmaceutical company focused on developing innovative antibody therapies that treat protein misfolding diseases, announced a $10 million financing led by SymBiosis, an investment firm focused on advancing biotherapeutics innovations for serious and life-threatening diseases.
This funding will advance Paradox’s therapeutic pipeline through significant milestones in multiple indications. And Paradox’s unique approach uses a lead identification and validation platform capable of developing antibodies that selectively target misfolded proteins while leaving healthy proteins untouched.
Paradox is focused on the development of treatment for immunoglobulin light chain amyloidosis (AL amyloidosis), a complication of multiple myeloma that can lead to heart, kidney and liver failure, and treatment for leukocyte chemotactic factor 2 amyloidosis (LECT2), a severely underdiagnosed cause of chronic kidney disease and failure.
In connection with this funding, Sandy Zweifach, an Operating Advisor at SymBiosis, recently joined Paradox as an independent director and Executive Chairman.
KEY QUOTES:
“These diseases represent a massive unmet medical need and substantial market opportunity, as they impact millions globally and current treatments are ineffective. Our platform has already identified a promising pipeline of therapeutics, and this vote of confidence from an ideal partner like SymBiosis, will enable us to accelerate our development efforts.”
– Dr. Natalie Galant, Co-Founder and Chief Executive Officer of Paradox Immunotherapeutics
“Effective therapies for protein misfolding disease and amyloidosis are incredibly complex to identify and develop. We see enormous opportunity in Paradox’s approach and its pipeline targeting best-in-class and first-in-class therapies which have the potential to change the treatment paradigm for multiple diseases. We are excited to support the Paradox team in further building its promising platform and bringing much-needed antibody therapies to market.”
– Chidozie Ugwumba, Managing Partner of SymBiosis
