Oligomerix Inc., of New York, raised $2 million in Series A funding through the issuance of new convertible preferred shares and debt conversion. Wheatley MedTech Partners LP, Wheatley New York Partners LP and Durand Venture Associates LLC were the lead investors. Proceeds will advance Oligomerix's preclinical tau protease inhibitor program for Alzhiemer's disease. Oligomerix is developing a compound-screening assay to identify disease modifying small-molecule drugs and antibody-based therapeutics targeting tau oligomers and their proteolytic activity.
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