CUMMING, Ga.--(BUSINESS WIRE)--Accuitis, Inc. today announced the closing of a $1 million Preferred financing round. The financing was a private placement with a significant investment from the recently formed Atlanta based, Bio/Med Investor Network. The Georgia Research Alliance, through its GRA Ventures program, has also granted a Phase IIIA loan. Accuitis expects to use proceeds from this financing to fund continued development of Accuitis’s first in class topical proteasome inhibitor (ACU-D1) for the treatment of Rosacea into Phase 1-2 clinical trials in 2016.
Accuitis has also elected Geoff Meacham, PhD to the Board of Directors. Dr. Meacham is managing director and senior research analyst covering the biopharmaceutical industry at Barclays. Previously, Meacham was with J.P.Morgan as a senior biotechnology analyst, and was an equity analyst at UBS, following early-stage biotech and life science companies. He has also worked in the pharmaceutical industry in a research-and-development capacity, Meacham holds a PhD in molecular cell biology from UAB and a bachelor’s degree in biology/microbiology from the University of Georgia.
About Accuitis, Inc.
Accuitis, Inc., headquartered in Cumming, GA, is a pre-clinical-stage biopharmaceutical company developing first-in-class drug therapies to treat chronic diseases of the skin and eye. Accuitis lead product is a topical proteasome inhibitor discovered at Emory University and is focused on treating Rosacea a dermato-ophthalmic condition which effects over 43 million people in the US & Western Europe, and other inflammatory skin diseases. A start-up out of the Emory Univerity tech transfer office, Accuitis is a GRA Ventures portfolio company and has received significant support from the Georgia Research Alliance. Visit www.accuitis.com for more information.
About Bio/Med Investor Network
The Bio/Med Investor Network was formed in 2014 to address the need for funding in early-stage bioscience and healthcare companies. Network members are accredited angel investors specializing in these fields to provide a high level of scrutiny and guidance for growing companies. The Network is based in Atlanta, Georgia with about 40 investor/members. More information can be found at www.biomedinvestors.com.
About the Georgia Research Alliance:
The Georgia Research Alliance (GRA) works to expand research and commercialization capacity in Georgia’s universities to recruit world-class talent, seed new companies and transform lives. For twenty-five years, GRA has worked to strengthen the research enterprise in Georgia by working in partnership with the University System of Georgia and the Georgia Department of Economic Development to create the companies and jobs of Georgia’s future. Visit www.gra.org for more information.