Peroxitech Announces Closing of $25M Series A Financing

Peroxitech Inc.

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Peroxitech Inc., a rising biopharmaceutical firm growing a novel peptide for treating acute lung damage, announced the successful closing of a Series A financing round of $25 million led by the Perceptive Xontogeny Venture Fund. The company will use the proceeds to build upon the preclinical work carried out via collaborative partnership and seed funding with the Xontogeny growth group to advance the lead candidate, PIP-2, via IND-enabling studies and into clinical growth.

Peroxitech’s lead asset mechanism leverages the discovery of a novel signaling pathway, NOX2, associated with the oxidative damage cascade, which has demonstrated broad safety and rescue in a number of preclinical models. The company’s novel peptide reveals it will possibly defend cells from damage and allow injured ones to recover to levels close to normal. These product traits might provide important advantages in ALI and should have applications in different diseases.

Peroxitech was seeded and incubated at Xontogeny in 2021 to advance this system via confirmatory preclinical efficacy research and further optimize CMC growth. Along with the lead program, the company has also secured further grants from the National Institutes of Health (NIH) for follow-on indications and additional pipeline growth. Peroxitech is led by Thomas Han and co-founded by Sheldon Feinstein, Ph.D., and Aron Fisher, M.D. Chris Garabedian and Ben Askew, Ph.D., Xontogeny’s Chief Government Officer and Accomplice for Analysis and Improvement, respectively, serve on the Board of Administrators.

Peroxitech Inc. is a privately held biopharmaceutical firm focused on the development and commercialization of a novel therapeutic for the treatment of acute lung injury. The company was launched by the University of Pennsylvania’s Penn Center for Innovation (PCI) Ventures and was seeded at Xontogeny. In addition to the primary clinical indication, Peroxitech is also evaluating our lead compound for many excessive unmet needs in areas where oxidative damage signaling pathways are a significant contributor to disease progression.

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