Knopp Biosciences LLC recently raised $1 million of convertible debt financing from an undisclosed investor, PitchBook reports. The company has raised $179.29 million to date and is valued at $200 million.
The Pittsburgh company is developing drugs intended to treat neurological, immunological and haematological disorders. The company’s drug is a dexpramipexole, small molecule of immunological therapeutic, which should enable medical professionals to treat Amyotrophic lateral sclerosis, Parkinson’s disease and other neurological degenerative disorders.
Dr. Michael Bozik serves as CEO and president at Knopp. Bozik served most recently as vice president of Global Research and Development at Bayer Healthcare LLC, and prior to that, he worked at Bristol-Myers Squibb Co. Previously, he directed the Brain Tumor Center at the University of Pittsburgh Cancer Institute and served as the chief of the Division of Neuro-Oncology at the University’s Department of Neurosurgery.