DELAWARE, February 14, 2022 ─ iQure Pharma Inc. (iQure), a US-based global biotech company, has completed its Due Diligence process with Keiretsu Mid-Atlantic as Lead Investors, with initial commitments already secured.
Dedicated to a new generation of neuropathic pain management therapeutics, iQure developed iQ-007 as a promising candidate with a novel mode of action. This therapeutic has demonstrated a favorable safety profile with encouraging results in neuropathic pain as well as a secondary indication of epilepsy. iQ-008 is a rationally designed multitargeting compound which, in preclinical efficacy screenings, shows a better-than-standard profile in all tested in vivo pain models.
“We are delighted to have the opportunity to provide an update to the Keiretsu Mid-Atlantic and South-East Chapters,” said iQure Chief Executive Officer, Pawel Zolnierczyk. "This update helps to arrange the funding required to reach the clinical stage, which will offer alternative treatment options to a large number of patients suffering from Neuropathic Pain.”
The Due Diligence process was completed successfully, and the company is now fully prepared to accept funding from investors, while offering attractive investment terms. The Angel Investor-friendly Term Sheet for Series A Preferred offers capital protection, favorable valuation, and a significant number of warrants. Company is in the process of securing $3.9MM and first commitments have already been received from members of the Due Diligence Team.