Blue Therapeutics announces Series A raise
WALTHAM, Mass., April 30, 2021 /PRNewswire/ — Blue Therapeutics is a Boston based drug discovery and development company. The lead asset BLUE-181 is approaching IND and has successfully provided the proof of concept and the blueprint for the R2i platform. Based on the concept of receptor-interactomicsTM the R2i platform opens up a new dimension for drug discovery. Blue has developed an early pipeline of disruptive opportunities which demonstrate the broad applicability of the technology across receptor classes and diseases. To leverage the full potential of the platform and enter the clinical phase with BLUE-181 the company is now opening a window into their science and business model in the context of their Series A raise.
“The fundamental science comes down to the fact that the interaction between receptors creates new drug targets in their own right. They play a much more important role in the biology of many diseases than the single, individual receptors the industry has been historically focusing on,” explains Ajay Yekkirala, CSO, founder and inventor of the company’s core technology. “With the right compounds – we call them interaction modulators or iMods – receptor interactions can be selectively manipulated while preserving the physiological function of the individual receptors. This results in distinct and unique pharmacology with improved efficacy and better tissue and disease selectivity and thus eliminating many side-effects we see with current treatments.”
Targeting the novel HM2K receptor, BLUE-181 is on a de-risked path to become a highly differentiated treatment option in the lead indication Irritable Bowel Syndrome as well as in a range of anxiety disorders. Besides very strong efficacy, the highlight of BLUE-181’s profile is the complete lack of tolerance development or risk for addiction. The further preclinical stage pipeline comprises programs in infectious diseases (including SARS-CoV2), breast cancer and Parkinson’s disease.
Blue Therapeutics has been successfully working in an essentially virtual model and has been funded exclusively by public grants of almost $7 Mio to date. Stefan Bluemmers, President & CEO and seasoned industry executive, explains the departure: “We have maxed out the virtual and grant funded model and with the data we have for BLUE-181 and the exciting pipeline we now need to build a company that can effectively drive opportunities forward in parallel. And while we have a very focused pipeline we also know we are really just scratching the surface of a new dimension of drug targets.”
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For further information, please contact:
Stefan Bluemmers, President & CEO
stefan@bluetherapeutics.com
Blue Therapeutics Inc., 203 Crescent St, Waltham, MA 02453, USA
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SOURCE Blue Therapeutics
