RESEARCH TRIANGLE PARK–Durham- based Lindy Biosciences has raised $548,500 in a new equity round from five investors according to a filing with the US Securities and Exchange Commission.
Lindy Biosciences is a development-stage company addressing formulation challenges in the rapidly growing biotherapeutics market.
A spinout from Southeast Techinventures, its core technology, Microglassification, produces spherical, dense, stable particles of a therapeutic protein, ideal for solid injectable formulations such as high-concentration suspensions or encapsulation for controlled release.
Over half of all antibody therapeutics are given intravenously, in part because the high dose required cannot be formulated as a solution in a volume small enough for subcutaneous injection.
Lindy Biosciences is developing high-dose suspensions of protein that are suitable for subcutaneous injection, decreasing administration costs, increasing patient comfort and compliance, and enabling new high-dose molecules to reach the market.
Lindy Bio raised an equity round of $547,000 January.
Founded in 2016, the company landed more than $800,000 in small business innovation research (SBIR) grants from the National Science Foundation and National Institutes of Health.
It also received a $220,000 investment from a large pharmaceutical firm. It raised $150,000 in March last year.
