FOR IMMEDIATE RELEASE:
SilcsBio Spinout Raises $1.5 Million
to Advance Drug Development
New investment from Bluedot Bio into Rasio follows initial
funding from the National Foundation for Cancer Research
December 2, 2021, Baltimore, MD – Rasio Therapeutics, a joint venture formed by SilcsBio and the National Foundation for Cancer Research (NFCR) to develop new drugs for oncology, today announced it has received $1.5 million in new financing.
This investment, led by Bluedot Bio LLC, will enable Rasio to advance promising leads and develop ongoing partnerships for drug development.
“Thanks to initial funding by the NFCR, Rasio was able to use the SilcsBio computational methods to rapidly and inexpensively identify promising drug leads,” said Ken Malone, CEO of Rasio. “The investment led by Bluedot Bio will enable us to reach key milestones for further development.”
About the National Foundation for Cancer Research:
The National Foundation for Cancer Research (NFCR) is a 501(c)(3) non-profit organization that provides scientists in the lab the funding they need to make and apply game-changing discoveries in cancer treatment, detection, prevention and, ultimately, a cure. It has distinguished itself in the cancer sector by emphasizing long-term, transformative research often overlooked by other major funding sources. With the help of more than 5.3 million individual donors over the last 46 years, NFCR has delivered more than $380 million in funding cancer research and cancer prevention education, leading to several important, life-saving discoveries. Learn more: www.nfcr.org
Rasio Therapeutics is a Maryland-based biopharmaceutical company that develops novel medicines using a cutting edge-computer-aided drug design technology. Rasio has partnered with SilcsBio, LLC, a leader in computational drug discovery, to develop small molecules for exciting but previously inaccessible disease targets. Rasio is initially focusing on oncology and has raised seed funding to design and develop several oncology therapeutics for areas of significant unmet medical need. Learn more: www.rasiotx.com
SilcsBio, LLC offers a platform technology that advances computational drug design applications through detailed protein mapping that accounts for flexibility and solvation and enables highly efficient ligand binding evaluation, virtual screening, and more. SilcsBio software and services span from target protein mapping and analysis through lead optimization and offers key insights for biological therapeutic formulations. The proprietary software unlocks hidden binding hotspots of target proteins and reveals the preferred ligand chemistries at those sites to rapidly guide the drug design process. SilcsBio most recently announced a partnership with Aikido Pharmaceuticals. Learn more: www.silcsbio.com
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