NeuBase Therapeutics Inc., a Pittsburgh biotechnology company developing antisense therapies to address rare genetic diseases, has landed $9 million in financing ahead of the company’s proposed merger with Ohr Pharmaceutical Inc. The financing will be used to conduct preclinical studies on NeuBase’s antisense platform and lead programs.
- The financing, which includes institutional and accredited investors, will consist of $8.4 million in commitments to purchase NeuBase common stock and the conversion of $600,000 in convertible notes issued after the Ohr merger announcement.
- Participating investors include Cyto Ventures, a life sciences-focused venture capital fund affiliated with Dietrich Stephan, Ph.D., NeuBase Therapeutics' CEO.
- NeuBase’s Peptide-nucleic acid AnTisense OLigonucleotide (PATrOL™) platform is designed to treat a multitude of rare genetic diseases, which collectively affect approximately 400 million people worldwide.