EraCal Therapeutics has closed an oversubscribed seed financing round, announced a statement. Among the investors were Bernina BioInvest, Redalpine, the UZH Life Sciences Fund and private investors.
The Zurich company is developing the appetite suppressant Era-107 to help people lose weight and avoid other diseases. Boasting a more precise mode of action than existing drugs, Era-107 is described as being more effective and causing fewer side effects. With the new funds, EraCal Therapeutics plans to drive the pre-clinical development.
EraCal Therapeutics was founded as a spin-off from the University of Zurich and Harvard University in Zollikon. It previously secured funding from the Venture Kick Competition and in June 2019, received 1 million Swiss francs from the Novartis Venture Fund and the UZH Foundation.
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