CMDBioscience, a CT biotech company that operates a proprietary computational peptide discovery platform and LaunchCapital close investment round.
New Haven-Meriden, CT (1888PressRelease) February 25, 2011 - CMDBioscience, a CT based biotechnology company specializing in computer-aided peptide drug discovery, announced today it has closed an investment round with LaunchCapital. Proceeds from the financing will be used to fund internal discovery work and further development of CMDBioscience's computational discovery platform CMDInventusSM , which has been specifically developed to enable rational peptide design.
"Having recently validated CMDInventusSM, we are now in the enviable position of having a proprietary and uniquely powerful computational peptide discovery platform that offers our partner companies tremendous value. By applying proven computational methods to the rapidly growing field of peptide therapeutics, CMDBioscience offers investors an attractive opportunity for rapid growth, " said Dr Joseph Audie, Ph.D., CEO of CMDBioscience. Moreover, Dr. Audie continued, "we are pleased with our partnership with LaunchCapital, which will allow us to continue to develop our platform while applying it to our internal discovery projects. In addition, this funding places us in an excellent position to better serve our partner companies."
"We believe that CMDBioscience represents an exciting opportunity for LaunchCapital. The milestones they have accomplished to date have been impressive. This discovery platform represents a paradigm shift in the field of peptide discovery and will serve to move the entire field of peptide therapeutics forward, " said Konstantine Drakonakis, PE, Director of LaunchCapital.
About CMDInventusSM: CMDInventusSM offers pharmaceutical, biotech and life science companies a ground breaking tool to assist with their peptide discovery projects. CMDInventusSM has been fully validated by multiple research projects, including a recent project aimed at identifying novel dengue virus anti-infective agents. Using CMDInventusSM, CMDBioscience scientists were able to model a key dengue structural motif and rationally design small peptides that targeted the motif. The project, completed in seven weeks time, involved the explicit consideration of 480,000 peptide sequences and ultimately converged on the 27 most promising peptides. Subsequent synthesis and experimental testing revealed excellent anti-infective activity for 5 of the designed peptides.
About CMDBioscience: CMDBioscience is a computational biotechnology company that specializes in the computer-enabled analysis, modeling and design of therapeutic protein-peptide interactions, with an emphasis on structure-based peptide design. Using structure-based peptide design, CMD scientists can help partner organizations efficiently identify novel peptide hits and leads, understand the structural basis of protein-peptide interactions, and rationally optimize peptide leads.
About LaunchCapital: LaunchCapital is dedicated to seed stage funding for all types of businesses. We combine the dedication, direct experience and organization of a traditional venture capital firm with added flexibility, focus and speed to help portfolio companies achieve milestones and impact markets. LaunchCapital aims to quickly fund growth and help companies create long-term value for all stakeholders. LaunchCapital's industry agnostic investment approach includes two unique investment vehicles to address funding needs for a range of business models. LaunchCapital Ventures provides traditional venture funding for businesses that have exponential growth expectations with a national or international reach.
CMD Bioscience contact:
Joseph Audie, PhD CEO
joseph.audie ( @ ) cmdbioscience dot com