iQure Pharma Obtains $600,000 in Early Closing for Research into Neuropathic Pain Therapies

Keiretsu and angel investors provide funding to support research into neuropathic pain compounds iQ-007 and iQ-008

PRINCETON, N.J., Aug. 31, 2022 /PRNewswire/ — iQre Pharma Inc. (iQure), a Princeton-based global biotechnology company, today confirmed the completion of the early closing of its Series A investment, which will support ongoing research into non-opioid therapies for neuropathic pain. .

iQure Pharm has secured over $600,000 in commitments to date and is backed by Keiretsu Mid-Atlantic, as well as business angels associated with Keiretsu’s Accelerator Fund and Keiretsu North-West Chapter, to advance the preclinical development of the new therapeutic treatment of iQure iQ-007 and iQ-008. Additionally, both compounds are supported by non-dilutive funding through the NIH Epilepsy (ETSP) and NIH Pain (PSPP) programs.

“We are very grateful to all of our early investors,” said Pawel Zolnierczyk, CEO of iQure. “Their support for our new therapies for neuropathic pain validates our strong experimental data. With the support of the NIH, this latest investment allows iQure to further develop our assets and increase our value. With the support of our investors and researchers, we are proud to be part of the biotech community developing promising therapies for the future.”

In particular, iQ-007 demonstrated positive results in NIH ETSP tests, which show the compound has the ability to treat pain, epilepsy, and potentially neurodegenerative diseases. Additionally, iQ-008 has progressed within the NIH PSPP pain-focused program. iQ-008, a new analgesic compound, moves to the next stage of the Preclinical Pain Screening Platform (PSPP), which was set up as part of the HEAL initiative to facilitate the identification of potential treatments non-addictive for acute and chronic pain conditions and alternatives to opioid analgesics.

Chronic pain is one of the most common chronic diseases in the United States. In 2019, 20.4% of adults suffered from chronic pain and 7.4% suffered from high-impact chronic pain that limited life or work activities. It is estimated that twenty million Americans have some sort of peripheral neuropathy. Neuropathic pain is considered one of the most severe forms of chronic pain.

About iQre Pharma

A global biotechnology company based in Princeton, New Jersey, iQure Pharma is focused on developing novel therapies for neuropathic pain, epilepsy and broader neurodegenerative diseases. iQure researchers, clinicians and pharmaceutical professionals work closely with academic partners, industry experts and patient organizations to develop medically and socially beneficial therapies. For more information about supporting iQure’s initiatives, contact iQure’s Chief Financial Officer, Dr. Anna Rzewuska at [email protected]

MEDIA CONTACT:
Kellyann Zuzulo
[email protected]
215.287.7291

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SOURCE iQre Pharma

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